Karim Badawi
This move, confirmed by a government source speaking to Asharq Bloomberg, follows BP's hefty investment of over $400 million in drilling two wells in the fiscal year 2024\2025.
This endeavor aligns with the Ministry's strategy to attract new investments to Egypt by leveraging opportunities in gas and oil exploration.
The corporation aims to accelerate drilling endeavors upon the arrival of the drilling team in October.
Their focus was on ramping up exploration efforts, augmenting petroleum production, and ensuring the fulfillment of local market demands.
Minister Badawi, in turn, underscored Egypt's substantial potential in mining and petrochemicals, stressing the nation's capability to enhance its economic standing and reduce import dependencies.
The Minister emphasized the importance of addressing current challenges comprehensively, with the goal of increasing production, bridging gaps, and transitioning towards a green economy.
Badawi also emphasized that these efforts are pivotal to Egypt's sustainable development strategy, reflecting a proactive stance on climate action and energy transition
Most Read
