Egypt

Petroleum Minister Meets Apache Delegation on Egypt's Gas and Oil Production

Published on : 2024-07-08

Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, affirmed that the Egyptian state is genuinely committed to creating an attractive investment climate across all sectors and leveraging expertise to achieve sustainable development goals. He highlighted that increasing Egypt's production of natural gas and crude oil ranks high among the priorities for the upcoming phase, in collaboration with foreign sector partners. This involves accelerating new discovery development and intensifying research and exploration efforts to enhance Egypt's reserves.

These statements came during his meeting with Greg McDaniel, Vice President and acting Country Manager, and the accompanying delegation. Discussions covered Apache's activities and its plans to boost natural gas production from its concessions in the Western Desert in the coming period. 

Badawi further emphasized that Apache is one of Egypt's largest crude oil producers, having contributed significantly through its longstanding partnership with Egypt's petroleum sector, persevering through various challenges and conditions. He underscored the importance of knowledge exchange between the petroleum sector and global companies to achieve mutual objectives, particularly in research, exploration, energy efficiency, emissions reduction, carbon removal, occupational safety, human resources training, and advanced technologies provided by Apache.

On his part, the President of Apache Egypt congratulated Engineer Karim Badawi on his appointment as Minister of Petroleum and Mineral Resources. He expressed Apache's eagerness to collaborate with the ministry to maximize the country's energy resources responsibly and sustainably, making Egypt an attractive investment destination globally. He added that Apache looks forward to intensifying research, exploration, and well development efforts to increase production and cooperation, highlighting significant progress the company has made in several areas in Egypt, including energy efficiency.

Both the Minister of Petroleum and the President of Apache Egypt affirmed their commitment to continued and supported mutual cooperation in the upcoming period. Geological expert Alaa El-Batal, CEO of the Petroleum Authority, and Engineer Alaa Hagar, the ministry's technical office representative, attended the meeting.

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