Prime Minister Mostafa Madbouly described the Egypt Energy Show (EGYPES 2026) as a key platform to address the repercussions of the ongoing regional crisis on the energy sector, expressing his keenness to hear the views and proposals of company representatives to advance work across the energy value chain, including exploration, production, financing, and digital transformation.
During a roundtable meeting on Monday, March 30, 2026, with executives of global energy companies operating in Egypt, Madbouly hailed global energy firms in the oil, gas, and renewable energy sectors as strategic partners of Egypt.
The roundtable was attended by Petroleum and Mineral Resources Minister Karim Badawi and senior executives from major international companies, including Apache, TotalEnergies, Eni, Dragon Oil, SLB, Baker Hughes, ExxonMobil, BP, Chevron, Shell, and others.
It was held on the sidelines of the ninth edition of EGYPES 2026, which kicked off earlier in the day and runs until April 1 under the patronage of President Abdel Fattah al-Sisi.
Madbouly noted that the world is going through a critical phase marked by mounting geopolitical tensions directly impacting energy security and global economic stability, adding that Egypt is closely following regional developments and their implications on shipping routes, supply chains, and energy prices. He underscored Egypt’s pivotal role in mediation efforts, crisis containment, and supporting de-escalation paths in the region.
Madbouly emphasized the importance of intensifying exploration efforts in light of incentives and facilitations offered by the state to accelerate field development and increase production, in order to meet growing domestic demand for petroleum products and natural gas.
He also pointed out that the Ministry of Petroleum has successfully reduced dues owed to foreign partners from $6.1 billion as of June 30, 2024, to about $1.3 billion currently, affirming the state’s support for partners’ expansion plans and readiness to provide all forms of support to enhance exploration, production, and development activities.
For his part, the petroleum minister said Egypt is moving forward with implementing an integrated strategy to enhance energy security and consolidate its role as a regional hub for energy trade and circulation in the Eastern Mediterranean, leveraging its strategic geographic location and advanced infrastructure, particularly in liquefaction and natural gas exports.
He added that the petroleum sector places digital transformation and artificial intelligence applications at the forefront of its priorities, given their key role in improving exploration and production efficiency, reducing investment risks, and boosting output.
Badawi affirmed that the ministry is expanding the use of advanced technologies, while continuing efforts to develop investment incentives and update regulatory frameworks to attract more foreign investments.
He noted that ambitious programs are in place to drill a large number of new wells in the coming years in cooperation with international partners, reiterating Egypt’s commitment to settling partners’ dues by the end of June 2026.
Meanwhile, executives of energy companies reaffirmed their commitment to supporting Egypt’s energy security through strategic partnerships with the petroleum ministry, praising the capabilities provided by floating regasification units and Egypt’s advanced technological potential to boost production.
They stressed their commitment to introducing the latest technologies, including AI applications and digital solutions, to enhance production, commending the Egyptian leadership’s clear vision in exploration and maximizing petroleum resources, and expressing their aspiration to expand investments in the Egyptian market.
They also underlined efforts to increase local production and accelerate implementation rates to reduce reliance on imports, while supporting Egypt’s strategic plans to become a regional energy hub.
Several company representatives described Egypt as a strategic market within their global investment portfolios, citing its stable and attractive investment environment. They noted that the roundtable reflects strong alignment between the government and global partners on the importance of maximizing the energy sector’s potential and strengthening Egypt’s regional position.
During the meeting, participants stressed that achieving energy security requires a balanced energy mix combining renewable expansion with emission reduction in oil and gas activities to ensure clean and sustainable energy supply. They also emphasized cooperation and integration in plans and technologies to optimize resource utilization and support sustainable development.
They added that securing domestic energy supplies remains a top priority, commending the government’s balanced approach toward achieving a just and comprehensive energy transition.
They further announced plans to expand in the Egyptian market in the coming period. In this regard, a representative of Italy’s Eni said the company intends to invest $2 billion in 2026, in addition to supporting community initiatives through cooperation with a medical facility to provide 400 beds serving one million people.
Company representatives also said they plan to sign new memoranda of understanding and agreements with the government on the sidelines of the conference to inject further investments into the energy sector. They praised President Abdel Fattah al-Sisi’s support for the sector and the government’s efforts, led by the prime minister, to maintain a stable business environment amid current regional tensions, as well as Egypt’s economic reform measures.
PM: EGYPES 2026 key to address regional crisis impact on energy sector Egypt Independent.
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