Arab Finance: Prime Minister Mostafa Madbouly held a roundtable discussion with the executive leaders of international energy companies operating in Egypt and reviewed plans to expand investment and boost production, according to a statement.
On the sidelines of the Egypt Energy Show 2026 (EGYPES), Madbouly highlighted that the world is currently witnessing a critical phase in the energy sector due to escalating geopolitical tensions that impact the global economic stability.
He affirmed that Egypt is closely monitoring regional developments and their repercussions on shipping lanes and supply chains, as well as their impact on energy.
The prime minister called on officials to propose measures to advance work across key energy-sector chains, including exploration, production, financing, and digital transformation.
Moreover, he stressed the importance of intensifying exploration and production efforts, given the incentives and facilities provided by the state to accelerate field development and increase production.
Madbouly stated that the Ministry of Petroleum successfully reduced outstanding payments to foreign partners gradually from $6.1 billion in 2024 to nearly $1.3 billion.
For his part, Minister of Petroleum and Mineral Resources Karim Badawi pointed out that the petroleum sector prioritizes leveraging digital transformation and AI-backed tools in improving the efficiency of exploration, reducing investment risks, and increasing production rates.
Representatives from energy companies expressed their support for helping Egypt's energy security by forming strategic partnerships with the Ministry of Petroleum and praised the use of floating storage and regasification units (FSRUs).
The officials rolled out plans to increase domestic production and accelerate the pace of implementation, which will contribute to reducing reliance on imports. This supports Egypt’s strategic objectives to become a regional energy hub.
In this regard, an official from the Italian company Eni stated that the company plans to invest $2 billion in 2026, in addition to supporting its social responsibility through a partnership with a medical facility, providing 400 beds that will serve one million people.
Representatives from several other companies also indicated that they will sign new memoranda of understanding (MoU) and agreements with the government regarding new investments in the energy sector during EGYPES 2026.
