Egypt eyes strengthening energy sector through strategic international partnerships
Updated 7/23/2024 3:24:00 PM
Arab Finance: Prime Minister Mostafa Madbouly met with Minister of Petroleum and Mineral Resources Karim Badawy to discuss enhancing Egypt’s energy sector through international collaboration and investment, as per a statement.
A key focus of the meeting was on securing the electricity sector’s needs for petroleum products, particularly during the high-demand summer period.
Efforts to increase production with various international companies were highlighted, as well as updates on settling dues with foreign partners, which is expected to boost research and exploration activities.
Badawy emphasized the ministry's commitment to supporting exploration and production initiatives and attracting foreign investments.
He outlined plans to employ modern technologies to boost production, which will help reduce import costs and secure a stable supply of oil and gas for the domestic market.
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