Egypt Boosts Oil, Gas Production Amid Regional Energy Hub Ambitions

Prime Minister Mostafa Madbouly reaffirmed Egypt's commitment to expanding its oil and gas sector, calling it a vital pillar of the national economy. The government aims to increase domestic production, attract more investment, and accelerate exploration activities to maximize the country's natural resources.

During a meeting in New Alamein City with Minister of Petroleum and Mineral Resources Karim Badawi, Madbouly stressed the importance of increasing domestic production and attracting more investment. Badawi reviewed progress on several strategic oil and gas projects being carried out with international energy companies.

The minister announced that Egypt's crude oil production has reached its highest level in two years, driven by higher investment and expanded exploration following the settlement of overdue payments to international energy partners. He also welcomed the final investment decision (FID) by Eni and TotalEnergies to develop Cyprus' Cronos gas field and connect it to Egypt's energy infrastructure.