Minister of Petroleum and Mineral Resources Karim Badawi met with Cypriot Energy Minister Michael Damianos, East Mediterranean Gas Forum Secretary-General Osama Mobarez and executives of international oil and gas companies operating in Egypt to discuss ways to accelerate investment and increase production.
The meeting took place during a roundtable titled “The Future of Energy in Egypt,” held on Wednesday, October 21, 2026, as part of the Mediterranean Offshore Conference and Exhibition (MOC).
Discussions focused on accelerating the development of discoveries and connecting them to existing infrastructure, maximizing the economic returns from oil and gas resources, strengthening regional cooperation and consolidating Egypt’s position as a regional hub for energy trading and trade.
Badawi said partnerships with investors were based on mutual interests, stressing that the success of companies operating in Egypt translates into success for the country’s oil and gas sector and the Egyptian state.
He affirmed the ministry’s commitment to addressing challenges facing its partners and providing the necessary conditions for expanding investments to generate sustainable economic returns for all parties.
The minister said declining production had been one of the sector’s most significant challenges, requiring efforts to stimulate investment, accelerate exploration and development activities and improve operational efficiency. He stressed that the ministry was focused on strengthening cooperation with partners, addressing factors affecting production and establishing more sustainable foundations for growth in the coming years.
Badawi added that the current phase required more effective partnerships through direct dialogue with companies to identify their needs and proposals, determine measures to accelerate investment decisions and project implementation and enhance the competitiveness of investment in Egypt’s oil and gas sector.
He also highlighted the importance of regional cooperation among Eastern Mediterranean countries and leveraging available resources and existing infrastructure to generate greater economic value from discovered gas reserves and support the development of new resources.
Egypt has significant advantages that position it to play an increasingly central role in the regional energy system, Badawi said, citing its advanced natural gas infrastructure, transportation networks, gas reception and trading facilities and liquefaction capabilities, as well as its strategic location linking production areas with consumer markets.
The ministry is looking to work with its partners to maximize the economic benefits of these assets and facilities, reducing project costs, improving efficiency and enhancing investment viability, he added.
For his part, Mobarez said Egypt’s energy future was closely linked to the future of regional cooperation, given the Eastern Mediterranean’s discovered natural gas resources and promising potential, which require increased investment and the development of infrastructure to unlock their value.
The main challenge, he said, lies in accessing these resources and converting them into sustainable economic value by developing viable projects, accelerating the development of discoveries and connecting them to target markets.
Achieving this requires clear regulatory frameworks and investment-friendly policies that enable the private sector to play an effective role in financing and implementing projects, as well as developing the infrastructure needed to transport gas to markets, Mobarez said.
He added that the East Mediterranean Gas Forum works to strengthen cooperation among governments, oil and gas companies, technology and services providers, financial institutions and regulatory authorities. Its efforts aim to identify priority projects, attract further investment and accelerate the implementation of infrastructure needed to maximize the use of the region’s resources.
Company executives and international partners said Egypt had significant competitive advantages that strengthened its ability to attract investment and reinforced its role in the regional energy sector. These included advanced infrastructure, transportation networks and gas facilities, its strategic geographical location, accumulated technical and technological expertise and the availability of data to support exploration activities and investment decisions.
Participants said these advantages offered promising opportunities to accelerate project implementation and maximize the use of resources in Egypt and the Eastern Mediterranean. They emphasized the importance of continuing to develop government-investor partnerships based on transparency, mutual trust and shared interests.
They also said the settlement of outstanding dues owed to companies had helped strengthen confidence in Egypt’s oil and gas investment climate and encouraged new investments to accelerate the development of discoveries and connect them to the national grid as quickly as possible, boosting production and maximizing economic returns.
Sustaining investment flows, participants stressed, requires a stable and predictable investment environment, clear and flexible regulatory frameworks, and long-term partnerships between the government and private sector. Such conditions would help companies make investment decisions more quickly and ensure projects are implemented according to target schedules.
They further noted that the true value of resources lies not merely in discovering them, but in the sector’s ability to develop, produce and market them efficiently. This requires flexible and innovative business models and the adoption of advanced technologies and artificial intelligence tools to improve operational efficiency, reduce costs and accelerate exploration, development and production.
The discussions underscored the importance of greater integration and cooperation among Eastern Mediterranean countries and companies operating in the region, alongside the development of regulatory and commercial frameworks and coordinated efforts to develop resources, provide infrastructure, transport gas and connect supplies to markets. These measures would support energy security, optimize the economic use of resources and strengthen prospects for sustainable development across the region.
The Ministry of Petroleum and Mineral Resources said the roundtable reflected its commitment to deepening direct dialogue with investment partners and identifying practical solutions to the challenges facing the sector. The efforts aim to increase investment, accelerate resource development, raise production levels, maximize the use of Egypt’s infrastructure and consolidate the country’s position as a regional hub for energy trading and trade.
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