Investment incentive programmes launched in petroleum sector – Minister
Minister of Petroleum and Mineral Resources Karim Badawi emphasized efforts to implement investment incentive programs in the oil and gas sector over the past eight months since the government’s appointment.
These efforts have significantly contributed to achieving positive indicators in accelerating well drilling and production operations across various projects in collaboration with investment partners, the minister said during a regular meeting with lawmakers Thursday.
He added that these efforts have helped reduce the import bill by $1.5 billion in the first six months of 2025, in addition to expediting new exploration operations that have yielded significant discoveries in the Mediterranean, specifically in the Western Mediterranean and King Mariout areas.
Badawi hailed fruitful cooperation between the Ministry of Petroleum and Parliament, which has led to the highest levels of integration, positively impacting efforts to create an attractive investment environment in the oil and mining sectors and driving production forward.
The minister highlighted that the remarkable success of the Egypt Energy Show, “EGYPS 2025,” reflects the interest of global companies in Egypt’s energy sector and their positive outlook on investment opportunities in oil, gas, green energy, and renewables.
He added that this success is due to Egypt’s strong capabilities and the government’s commitment to implementing mechanisms that support and facilitate investment in the sector.
Source: Gazette Staff