Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi discussed steps to activate a long-term strategic partnership between Egypt and Azerbaijan in the oil and gas sector during a meeting with officials from the State Oil Company of the Republic of Azerbaijan (SOCAR) on the sidelines of Baku Energy Week in the Azerbaijani capital from June 1st to 3rd, the Egyptian ministry said in a statement.

The discussions focused on following up on efforts to implement the long-term strategic partnership between the oil and gas sectors of both countries, accelerate joint cooperation, and expand its scope under the framework agreement signed between the  Egyptian General Petroleum Corporation (EGPC) and SOCAR during EGYPES 2026 in Cairo.

Badawi said the oil and gas sector represents a key pillar of cooperation between Egypt and Azerbaijan, supported by the growing momentum in bilateral relations and the backing of Egypt's and Azerbaijan's presidents, Abdel Fattah El-Sisi and Ilham Aliyev, to strengthen ties across multiple sectors.

He noted that both countries possess complementary strengths that create opportunities for building a sustainable partnership serving mutual interests. He highlighted Egypt’s integrated oil and gas infrastructure, including refining, handling, storage, and re-export capabilities, as well as its large domestic market and expanding industrial base in downstream and value-added industries.

Badawi also pointed to investment opportunities in oil and gas exploration and production activities in Egypt, which could provide SOCAR with additional opportunities to expand its presence in the Egyptian market. He reiterated the Ministry of Petroleum and Mineral Resources’ commitment to strengthening cooperation with the Azerbaijani company and advancing the partnership to deliver tangible results for both countries.