Egypt Accelerates Oil and Gas Investments, Saving $1.5 Billion in Imports
CAIRO – 6 March 2025: Minister of Petroleum and Mineral Resources, Karim Badawi, highlighted the government's proactive efforts over the past eight months to stimulate investment in the oil and gas sector. These initiatives have significantly expedited drilling and production operations, leading to a substantial reduction in import costs—saving Egypt $1.5 billion in just six months.
During a meeting with members of the House of Representatives and the Senate, Badawi explained that these efforts have fueled exploration activities, resulting in major discoveries in the West Mediterranean and King Mariout regions. These findings align with Egypt's strategic objective of boosting domestic production and minimizing dependence on imports.
The minister also emphasized the success of the Egypt International Energy Conference (EGYPS 2025), which has reinforced global interest in Egypt's energy sector. Numerous international companies have expressed optimism about investment opportunities in oil, gas, and renewable energy.
Reaffirming Egypt's commitment to fostering a favorable investment climate, Badawi underscored the country's strong economic fundamentals and ongoing reforms that continue to enhance the attractiveness of its energy market. These efforts position Egypt as a key hub for strategic energy investments.
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