Egypt Targets Doubling Oil Output with $4 Billion Refinery Push

Egypt has set its sights on doubling crude oil and condensate production under its five-year energy strategy, which also includes advancing six refinery projects valued at over $4 billion. The plan aims to strengthen Egypt's position as a regional hub for petroleum product trading, gas liquefaction, and exports.

According to the presidency, President Abdel Fattah Al-Sisi reviewed the plans during a meeting in New Alamein with Prime Minister Mostafa Madbouly and Petroleum and Mineral Resources Minister Karim Badawi. The minister presented the ministry's five-year production strategy, which includes seismic surveys, advanced technologies, new contractual frameworks, and the development of discoveries yet to enter production.

The plan also covers exploration, development, and production projects, as well as new wells expected to come online between now and December 2026. Egypt is seeking to attract further investment from international energy companies after clearing overdue payments to foreign partners and maintaining regular payments on current obligations.