On the sidelines of the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC 2024), Egypt’s Minister of Petroleum and Mineral Resources, Eng. Karim Badawi, engaged in discussions with Patrick Pouyanné, CEO of TotalEnergies. The talks focused on TotalEnergies’ current and upcoming strategic plans for oil and gas exploration and production, with updates on operations in the Bashrush development area, the company’s role in the Idku liquefied natural gas (LNG) facility, and its expansion into aviation fuel supply.

TotalEnergies expressed a keen interest in acquiring new exploration blocks in the Mediterranean, as part of the 2024 international bid round announced by the Egyptian Natural Gas Holding Company (EGAS). This interest aligns with TotalEnergies’ commitment to bolstering its investment footprint in Egypt. Minister Badawi highlighted plans to unveil an investment policy paper at ADIPEC, designed to stimulate opportunities in Egypt’s oil, gas, refining, and petrochemical sectors.

The meeting also reviewed TotalEnergies’ recent partnership with ADNOC, aimed at expanding production, distribution, and export of lubricants and petroleum products throughout Egypt and Africa. Additionally, both parties discussed TotalEnergies’ outstanding receivables, with Minister Badawi underscoring the Ministry’s progress in implementing new, sustainable payment mechanisms to ensure timely settlements. Discussions also touched on the development of Cyprus’ Cronos field and the potential to connect it to Egyptian infrastructure, fostering mutually beneficial cooperation between Egypt, Cyprus, and the participating companies.