Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, held a roundtable meeting titled "Egypt's Energy Future" during the activities of the Mediterranean Offshore Conference and Exhibition (MOC 2026). The meeting was attended by Michael Damianos, Minister of Energy of Cyprus; Osama Mobarez, Secretary-General of the East Mediterranean Gas Forum (EMGF); and chairpersons and executives of international oil and gas companies operating in Egypt, to discuss ways to accelerate investment inflows, increase production, and expedite the development of discoveries and their linkage to infrastructure.
Badawi affirmed that the partnership with investors is based on achieving mutual interests, and that the success of companies operating in Egypt represents a success for the oil and gas sector and the Egyptian state. He emphasized the Ministry's keenness to overcome challenges facing partners and provide the necessary components for expanding investments, thereby achieving a sustainable economic return for all parties.
The Minister explained that the decline in production was one of the most prominent challenges facing the sector, which required action to stimulate investments, accelerate exploration and development activities, and improve operational efficiency. He stressed that the Ministry's efforts focus on enhancing cooperation with partners, addressing challenges affecting production, and building more sustainable foundations for growth over the coming years.
The Current Stage Requires Transitioning Partnership to More Effective Levels
He pointed out that the current stage requires transitioning the partnership to more effective levels through direct dialogue with companies to identify their needs and proposals, determine the necessary procedures to expedite investment decisions and project implementation, and enhance the investment competitiveness of the Egyptian oil and gas sector.
The Importance of Regional Cooperation Among East Mediterranean Countries and Utilizing Available Resources and Existing Infrastructure
The Minister of Petroleum stressed the importance of regional cooperation among East Mediterranean countries and utilizing available resources and existing infrastructure, which enables the generation of greater economic value from discovered gas resources and supports opportunities for developing new resources.
He affirmed that Egypt possesses significant components that qualify it to play a growing pivotal role in the regional energy system, foremost among which are advanced natural gas infrastructure, transportation networks, and facilities for receiving, trading, and liquefying gas, in addition to its geographical location linking production areas to consuming markets.
He explained that the Ministry looks forward to working with partners to maximize the economic utilization of these assets and facilities, thereby reducing project costs, raising their efficiency, and enhancing their investment feasibility.
For his part, Osama Mobarez, Secretary-General of the East Mediterranean Gas Forum, affirmed that Egypt's energy future is closely linked to the future of regional cooperation, in light of the region's discovered natural gas resources and promising potentials that require enhanced investment and the development of the necessary infrastructure to exploit them.
He explained that the main challenge lies in accessing these resources and converting them into sustainable economic value through the development of viable projects, accelerating the development of discoveries, and linking them to target markets.
He pointed out that achieving this requires clear regulatory frameworks and investment-attractive policies, enabling the private sector to participate effectively in financing and implementing projects and developing the necessary infrastructure to transport gas to markets.
He added that the Forum works to enhance cooperation among governments, oil and gas companies, technology and service companies, financial institutions, and regulatory bodies, with the aim of identifying priority projects, attracting more investments, and accelerating the implementation of necessary infrastructure projects to maximize the utilization of the region's resources.
During the roundtable, representatives of international companies and partners affirmed that Egypt possesses important competitive advantages that enhance its ability to attract investments and solidify its role in the regional energy sector, foremost among which are advanced infrastructure, transportation networks, and gas facilities, in addition to its strategic geographical location, accumulated technical and technological expertise, and the availability of data necessary to support exploration activities and investment decision-making.
The participants pointed out that these components provide promising opportunities to accelerate project implementation and maximize the utilization of available resources in Egypt and the Eastern Mediterranean, stressing the importance of continuing to develop the partnership between the government and investors on the basis of transparency, mutual trust, and the achievement of mutual interests.
Settlement of Dues Contributed to Enhancing Confidence in the Investment Climate of the Egyptian Oil and Gas Sector
In this context, participants affirmed that the settlement of companies' previous dues contributed to enhancing confidence in the investment climate of the Egyptian oil and gas sector, and supported the trend toward injecting new investments to accelerate the development of discoveries and link them to the national grid as soon as possible, thereby contributing to increasing production and maximizing the economic return from resources.
They stressed that the sustainability of investment flows requires continued work to provide a stable and predictable investment environment characterized by clear and flexible regulatory frameworks, supporting long-term partnerships between the government and the private sector, which helps companies make faster investment decisions and contributes to project implementation according to target timelines.
Participants also affirmed that the true value of resources is not achieved merely through their discovery, but through the sector's ability to develop, produce, and market them efficiently by adopting flexible and innovative business models and applying the latest technologies and artificial intelligence tools, thereby contributing to raising operational efficiency, reducing costs, and accelerating exploration, development, and production activities.
The discussions emphasized the importance of enhancing integration and cooperation among East Mediterranean countries and companies operating in the region, developing regulatory and commercial frameworks, and coordinating efforts in the areas of resource development, infrastructure provision, gas transportation, and grid connection. This supports energy security, achieves optimal economic exploitation of resources, and enhances opportunities for sustainable development in the region.
