The Minister of Petroleum reviews the results of the Rystad Energy report and Egypt’s strategic efforts to become a regional gas hub.
During Cabinet meeting, chaired by Prime Minister Mostafa Madbouly, Minister of Petroleum and Mineral Resources, Karim Badawi, presented a report on Egypt issued by Rystad Energy on December 12th, titled “Resetting Egypt’s Gas Sector: Debt Settlement, Reviving Drilling Activity, and Expanding Renewable Energy.”
Minister Badawi explained that the report indicates the Egyptian petroleum sector is undergoing a significant structural restructuring, driven by unprecedented government interventions and practical policy reforms.
The report links the development of conventional fields with the goals of the energy transition.
Despite the challenges associated with declining production from some fields and the natural decline in output from existing assets, the Egyptian government has become more effective due to its efforts to stabilize production levels, accelerate the pace of exploration for new discoveries, launch a large number of licensing rounds, review the gas pricing structure, and address the issue of outstanding payments to partners.
