Arab Finance: Egypt and the UAE mulled over deepening cooperation in the oil and natural gas sectors, including investment, exploration, and field development, as per a statement.
On the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2026), Egypt’s Deputy Prime Minister for Economic Affairs Hussein Eissa and Minister of Petroleum and Mineral Resources Karim Badawi met with Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of Abu Dhabi National Oil Company (ADNOC).
The meeting focused on strengthening bilateral strategic economic partnership and identifying new investment opportunities across the oil and gas sector.
Both sides highlighted the continued development of Egyptian-Emirati relations, pointing to existing partnerships in several economic sectors, particularly oil and gas, including Egyptian petroleum companies’ involvement in projects in the UAE and growing Emirati investment in Egypt’s energy industry.
Eissa reaffirmed Egypt’s commitment to expanding economic and investment cooperation with the UAE, emphasizing the importance of their longstanding strategic ties in advancing mutual interests and strengthening energy security.
He also highlighted ADIPEC’s role as an international platform bringing together policymakers, industry executives, and investors to exchange expertise and explore opportunities. Egypt’s participation, he noted, provides an opportunity to promote investment prospects in its energy sector and showcase the country’s capabilities in support of sustainable development.
Badawi, meanwhile, stressed the importance of building on existing cooperation to pursue further opportunities in investment, exploration, research, and field development, while highlighting the potential to expand the participation of Egyptian petroleum companies in UAE projects and benefit from advanced technologies and expertise.
The two sides discussed expanding the involvement of Egyptian companies, particularly Engineering for the Petroleum and Process Industries (ENPPI) and Petroleum Projects and Technical Consultations Company (Petrojet), in projects undertaken by ADNOC and its subsidiaries, especially those planned for 2026-2028.
The meeting also reviewed Emirati investments in Egypt’s natural gas sector, particularly those undertaken by Arcius Energy, the joint venture between ADNOC’s international investment arm XRG and bp.
The company’s activities include the Harmattan gas field development and the West Atoll exploration well, alongside its involvement in the Zohr field and North Damietta concession. These projects are expected to contribute to increasing Egypt’s domestic natural gas production during 2026 and 2027.
They also reviewed Emirati investments in Egypt, including those by energy company Arcius, which is involved in several petroleum projects, including the Harmattan field and West Atoll well, as well as investments in the Zohr and North Damietta fields. These investments are expected to support growth in Egypt's domestic natural gas production during 2026 and 2027.
On exploration, the two sides discussed expanding the participation of XRG and Arcius in developing untapped areas in the Mediterranean, taking part in Egypt's 2026 international bidding round and exploring opportunities in the Red Sea.
The meeting also addressed ADNOC Drilling's interest in cooperating on Egypt's five-year drilling program through coordination with the Egyptian Drilling Company (EDC). The cooperation aims to expand available drilling rig capacity and leverage advanced technologies and technical expertise to support the program's targets.
