Minister of Petroleum and Mineral Resources Karim Badawi said Egypt is prioritizing energy security and working to attract the investment needed to increase domestic production and maximize the use of its infrastructure. Badawi made the remarks on Monday, October 12, 2026, while delivering the keynote address at the opening ministerial session, titled “The Future of Energy,” at the World Petroleum Congress (WPC Energy) in Riyadh, Saudi Arabia.
The conference was inaugurated by Saudi Minister of Energy, Industry and Mineral Resources Prince Abdulaziz bin Salman Al Saud, with the participation of energy ministers and leaders of major international companies. The minister said securing energy supplies for citizens and meeting domestic market demand are top state priorities.
This requires encouraging investment to raise domestic production, intensifying exploration activities and accelerating the development of discoveries, while creating an attractive investment climate to draw more capital into the oil, gas and mining sectors. Badawi noted that President Abdel Fattah El Sisi had sent a clear message to investors during his address at the latest Egypt Mining Forum, reaffirming the state's commitment to creating the conditions needed for successful investment across the Egyptian economy, including the energy and mining sectors.
He said investment was essential to supporting economic growth and strengthening the country's ability to meet its development needs. The session also featured US Energy Secretary Chris Wright, who participated via videoconference; Mongolian Deputy Prime Minister Dorjkhand Togmid; German Federal Minister for Economic Affairs and Energy Katherina Reiche; and Turkish Minister of Energy and Natural Resources Alparslan Bayraktar.
Badawi said Egypt was adopting a practical approach to energy-sector challenges, based on close cooperation with international investment partners, improving the business climate and turning available opportunities into productive projects. He said reforms over the past two years had included regular payments to partners and settlement of outstanding dues, new incentives for mature fields and exploration activities, stronger direct communication with investors, and the digital presentation of investment opportunities through the Egypt Upstream Gateway (EUG).
These measures have had a positive impact on companies' activities and investment decisions, he said. Recent examples include the early start of production from BP's Fayoum 4 well, Arcius Energy's final investment decision to develop the Harmattan field, and Shell's decision to invest in Phase 12A of the West Delta Deep Marine project.
Badawi added that ExxonMobil and QatarEnergy were preparing to carry out offshore drilling, while BP and Shell had implemented intensive gas-well drilling programmes in the Mediterranean. Chevron had resumed drilling at the Nargis field, and TotalEnergies had returned to exploration activities in the western Mediterranean.
He said these developments formed part of an integrated plan to boost domestic production, address challenges caused by accumulated payments owed to partners, accelerate exploration and the development of discoveries, and establish a more stable environment for continued investment in exploration and production.
On regional cooperation, Badawi said Egypt was well positioned to contribute to energy security as both an energy producer and consumer, as well as a regional hub for transit, processing and trading. He cited its strategic location at the meeting point of the Mediterranean and Red seas and at the crossroads linking Africa, the Middle East and Europe.
Egypt's strategic infrastructure includes the Suez Canal, the SUMED pipeline, the national natural gas network and the liquefied natural gas plants in Idku and Damietta, in addition to substantial oil-refining capacity. These assets enable Egypt to make use of regional resources and connect them with consumer markets, he said.