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Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi held a meeting with the leadership of the Egyptian General Petroleum Corporation (EGPC) to review its performance and future development plans, according to a statement.
The meeting addressed the implementation status of key projects, challenges affecting performance, and the support needed to accelerate execution and improve operational efficiency.
Badawi stressed the importance of identifying and reporting any obstacles that could hinder the petroleum sector's objectives to both EGPC and the ministry, ensuring uninterrupted operations and sustained high performance. He also called for empowering work teams and supporting them to achieve targeted results.
The minister urged stronger integration and coordination across EGPC's departments, emphasizing the need to operate as a unified team to back the ministry's strategy aimed at increasing oil and gas production while maximizing the use of existing infrastructure and resources.
He also reaffirmed that attracting new petroleum investments, accelerating the development of discoveries, and boosting production remain the ministry's top priorities at the current phase.
Additionally, the minister concluded that every additional barrel of crude oil and every cubic foot of natural gas produced locally contribute to securing market needs, fostering energy security, reducing the country's import bill, and driving national economic growth.
The EGPC’s efforts helped raise crude oil production after a period of decline, bringing Egypt's total production to more than 540,000 barrels per day (bpd).
