Egypt Seeks to Boost Oil and Gas Production with International Partners

Egyptian President Abdel Fattah El-Sisi met with Prime Minister Madbouly and Petroleum Minister Badawi to discuss crude oil and natural gas production. The president emphasized the need for incentives to encourage partners to expand exploration and development activities.

The petroleum minister presented a comprehensive overview of crude oil and natural gas production indicators, highlighting efforts to intensify exploration, development, and production activities. Investment projects aim to double Egypt's oil and condensate production by 2026.

Eni CEO Descalzi expressed appreciation for meeting with President El-Sisi, affirming his company's commitment to strengthening its role in the Egyptian market. Eni plans to drill 30 exploration wells and 200 development wells during the coming period.