Cairo: President Abdel Fattah El-Sisi met with Prime Minister Dr. Moustafa Madbouly and Minister of Petroleum and Mineral Resources Engineer Karim Badawi to discuss strategies for enhancing Egypt's energy production capabilities and economic efficiency.According to State Information Service Egypt, the meeting highlighted efforts by Egyptian companies to boost production through advanced techniques such as hydraulic fracturing and horizontal drilling. Engineer Karim Badawi emphasized the petroleum sector's commitment to accelerating these technologies to access otherwise challenging oil and gas resources, thereby significantly augmenting crude oil and gas production. President El-Sisi underscored the importance of adopting and localizing modern technologies to enhance productivity, drawing on successful global and regional models.The discussions also focused on establishing appropriate mechanisms for optimal economic implementation in collaboration with major drilling and technology service companies, alon gside production partners. The meeting reviewed an aerial survey of mineral resources aimed at increasing mining sector investments. Recent fluctuations in petroleum product and gas prices, driven by regional events, were also considered.The President examined measures to ensure the availability of petroleum products for various sectors, including production and power plants. During the meeting, Engineer Karim Badawi confirmed the sector's ongoing efforts to reduce overdue payments to foreign partners, ensuring the regular payment of monthly dues and preventing future delays. The ministry is committed to continuous consultations with investors to understand their needs and formulate systems for mutual benefit.President El-Sisi stressed the importance of maintaining regular payments to international oil companies to encourage exploration and production expansion. He also advocated for a mechanism to develop research, exploration, and development activities to meet local demands and reduce imports.
President El-Sisi Discusses Energy Production and Economic Strategies with Key Officials
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