Badawi explores US-based Vaalco Energy’s expansion plans in Egypt
Updated 10/1/2025 8:07:00 AM
Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi reviewed US-based Vaalco Energy’s expansion strategy in Egypt and welcomed its plans to increase production from the Eastern Desert fields, according to a statement.
In his meeting with Iman Hill, Country Manager of Vaalco Energy in Egypt, Badawi affirmed that the country is on the right track toward increasing oil and gas production and encouraging investment.
He noted that regular payment of dues to foreign companies contributed to expanding Egypt's production rates and reducing the import bill.
The minister also reviewed the company's plans to utilize renewable energy resources at its operations in the Eastern Desert and link them with production facilities. This move resulted in cutting down liquid fuel consumption, lowering carbon emissions, and achieving environmental sustainability.
For her part, Hill emphasized that the regular payment of dues encouraged the company to intensify its operations in the Eastern Desert through an ambitious program that began last December.
She added that Vaalco Energy will focus on expanding into new areas, given the favorable investment environment in the Egyptian petroleum sector. It will also expand its workforce by relying on young Egyptian cadres with a high level of familiarity with the latest technologies and AI-based tools.
Moreover, she also rolled out plans to operate three wells by using solar energy and connect production facilities with renewable energy sources, including solar and wind.
Moreover, Hill touched upon the ongoing work in the South Ghazalat area in the Western Desert, one of the company's concession areas in Egypt.
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