Egypt's Minister of Petroleum and Mineral Resources Karim Badawy has detailed plans to strengthen the country's oil sector, with a primary goal of boosting crude oil and natural gas production to meet rising domestic demand amidst extensive national development projects, as per a statement.

Badawy shed light on the importance of restoring partner confidence through timely payments and incentivizing investments in exploration and development.

The minister highlighted efforts to maximize existing resources, including giant refineries, strategic storage facilities, and oil transportation networks.

Plans are underway to optimize production capacities, including potential additions of new floating storage and gasification units in Ain Sokhna, Badawy added.

In the field of exploration, the minister emphasized ongoing efforts to attract global investments through digital platforms and international bidding processes.

The minister also outlined initiatives to integrate sustainable practices into the sector, including projects for green ammonia production, bioethanol, and sustainable aviation fuel.

These efforts support Egypt's commitment to reducing carbon emissions by 2.5 million tons annually by 2030 at an investment cost of $2 billion, leveraging international cooperation and innovative financing models.

Looking ahead, Egypt aims to strengthen its role as a regional energy hub through enhanced connectivity with neighboring countries and continued development of its mining sector.

Plans include expanding extractive industries, advancing digital transformation, and promoting Egypt's mining opportunities in global forums.

Badawy reaffirmed Egypt's commitment to sustainable economic growth through strategic investments and technological advancements in its petroleum and mineral resources sectors.