oil
The increase has added more than 10,000 barrels per day above previous production levels and contributed over 2.8 million barrels in cumulative output since January 2025, according to the ministry.
The agreement was signed during an official visit by Minister of Petroleum and Mineral Resources Karim Badawi to Algeria, in the presence of Algerian Minister of Energy and Mines Mohamed Arkab.
Prime Minister Mostafa Madbouly met with senior cabinet members and officials from the Suez Canal Economic Zone (SCZONE) and the "Future of Egypt" project to follow up on the establishment of a global hub for the storage, supply, and trade of grains and oils.
Prime Minister Mostafa Madbouly chaired a Central Committee for Crisis Management meeting on Monday to address the domestic repercussions of the ongoing regional conflict involving the U.S., Israel, and Iran.
The Egyptian government has approved a package of measures to rationalize spending and consumption in response to escalating regional developments, according to a Monday statement by Cabinet Spokesman Mohamed El-Homsawy.
The minister said Egypt is preparing to implement $4.5 billion in new investments across six projects over the coming four years, in cooperation with the private sector.
Egyptian President Abdel Fattah El Sisi necessitated settling the dues of oil and gas companies operating in Egypt and honoring the state’s obligations toward them, in a manner that contributes to increasing domestic oil and gas production.
The document explains that the plan aims to stimulate private investment by developing bidding systems, simplifying procedures, and shortening the timeframes for signing agreements.
The President emphasized that such measures would help boost investment volumes and increase production to meet rising consumption and development needs, while continuing efforts to localize industries associated with these vital sectors.
The digital platform, developed in partnership with Schlumberger, provides investors with comprehensive geological data, technical studies, and advanced digital tools, accelerating decision-making for upstream oil and gas projects.
These agreements secured investments worth $631 million.
The field has been immediately brought online, underscoring the Ministry of Petroleum and Mineral Resources’ strategy to boost domestic oil and gas production.
Egyptian President Abdel Fattah El Sisi directed the regular payment of financial dues to companies contracted with the state in the petroleum and gas sector.
He instructed the Ministers of Petroleum and Health to prioritize collaboration with Azerbaijan in these areas, in line with Egypt’s broader strategy to deepen partnerships and foster growth in critical industries
President Abdel Fatah El-Sisi received Monday CEO of ENI Claudio Descalzi.
The Egyptian state seeks to establish the country as a regional center for trading and exporting gas and energy in the Eastern Mediterranean region.
Minister of Petroleum Karim Badawi met Thursday with a delegation from the U.S. company Falco Energy to discuss new excavations.
Egyptian Minister of Petroleum and Mineral Resources Eng. Karim Badawi, met Wednesday with new Iraqi Ambassador to Cairo Dr. Qahtan Taha Khalaf, where both discussed ways of enhancing joint cooperation in the fields of oil and gas.
President Sisi commended the company's work in the country over the past three decades.
This comes as part of a consortium partnership with a leading local Exploration and Production (E&P) player to operate and enhance production in key oil brownfields in Egypt.
