Egypt in talks with international oil firms to boost output over five years

The Egyptian government is currently discussing with international oil and gas companies operating in the country a plan to intensify exploration, development and production activities over the next five years, Al Ahram reported on February 2, citing a statement from the Ministry of Petroleum and Mineral Resources. 

Egypt has been seeking to accelerate upstream investment as part of broader efforts to strengthen energy security, raise output and attract fresh foreign capital into the oil and gas sector.

Petroleum Minister Karim Badawi held discussions with the heads and senior executives of some of these companies, explaining incentive measures aimed at mobilising the investment required to implement the strategy. 

Badawi said there is an urgent need for companies to adhere to agreed timelines, noting that the strategic plan is designed to help narrow the gap between domestic production and consumption. He added that Egypt is prioritising incentives to increase crude oil and gas exploration and production investment, alongside wider adoption of advanced techniques to unlock new resources.

The activities include horizontal drilling and the development of unconventional resources, as well as the use of modern technologies such as seismic surveys and artificial intelligence to improve the quality and reliability of geological data, the minister said.

The minister added that there are promising investment opportunities in frontier areas that have seen little or no previous exploration activity, particularly in the western Mediterranean and parts of the Western Desert. He said Egypt’s investment appeal is supported by a transparent and cooperative operating framework with international partners.

Badawi also elaborated on the importance of continuous coordination with energy companies, noting that close cooperation helped the country overcome power supply challenges in summer 2025, despite record levels of electricity consumption.