Eng. Kareem Badawy, Minister of Petroleum and Mineral Resources, held a strategic meeting with Eng. Ali Rashid Al-Jarwan, CEO of Dragon Oil, at the ministry’s headquarters in the Government District, New Administrative Capital. The discussions were attended by senior officials, including Eng. Salah Abdel Karim, CEO of the Egyptian General Petroleum Authority, his deputy for exploration, Mohamed Mohie, and Eng. Moataz Atef, Undersecretary for the Minister’s Office and official spokesperson.

The meeting focused on reviewing Dragon Oil’s operational progress and its plans to boost production in the Gulf of Suez through cutting-edge drilling technologies. Minister Badawy commended the successful collaboration between GUPCO and Dragon Oil, which has transformed the investment landscape in the region and unlocked significant potential. He reaffirmed the ministry’s commitment to fostering an investment-friendly environment that drives growth and benefits all stakeholders.

Eng. Al-Jarwan expressed his satisfaction with Dragon Oil’s achievements in Egypt and outlined the company’s ambitions to expand its activities, particularly in the Gulf of Suez. He highlighted Dragon Oil’s expertise in revitalizing mature fields and leveraging advanced technologies to enhance production, emphasizing the promising investment opportunities available in the region.

Notably, the Ministry of Petroleum recently signed a Memorandum of Understanding with Dragon Oil during ADIPEC 2024. The agreement focuses on deploying advanced artificial intelligence applications for reservoir management in the Gulf of Suez, aiming to optimize production efficiency and promote long-term sustainability.