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Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi discussed boosting cooperation with SLB, formerly known as Schlumberger, on implementing horizontal drilling technologies to increase oil production, according to a statement.
This process will facilitate the drilling of wells targeting oil and gas resources that are difficult to exploit using traditional methods.
In his meeting with Olivier Le Peuch, CEO of SLB, Badawi explored ways to leverage advancing tech solutions and AI apps in expanding exploration and production activities.
The minister affirmed the government’s commitment to developing new contractual models and offering investment incentives that support the utilization of horizontal drilling technologies.
During the talk, which was held on the sidelines of EGYPES 2026, Badawi commended the work already completed in collaboration with SLB in the Red Sea region, particularly in seismic surveys.
For his part, Le Peuch stressed the importance of deploying modern and integrated tech tools to promote the efficiency of exploration and production activities in Egypt, which contributes to withstanding the natural decline in production and reducing operating costs.
