Egypt is actively increasing its pure gasoline infrastructure by means of renting three Floating, Regasification and Storage Models,(FRSU) with plans so as to add a fourth one quickly, stated Minister of Petroleum and Mineral Sources, Karim Badawi, throughout a press convention on Wednesday on the new Administrative Capital.
Renting the FRSUs comes throughout the framework of the ministry’s efforts to hedge towards the drop in native manufacturing, and obtain the primary pillar of the ministry’s technique associated to protecting residents’ wants of petroleum merchandise most successfully and sustainably, Badwai famous.
The ministry has been intensifying efforts to boost vitality safety and sustainability by means of totally different mechanisms that contain offering incentives to international oil corporations, increasing the sector’s infrastructure, repaying dues to grease and gasoline companions, and renting regasification models, Badawi famous.
Throughout the press convention, Minister Karim Badawi outlined the newest developments in Egypt’s oil and gasoline sector, protecting ongoing drilling and exploration tasks, cross-sector collaboration, and strategic agreements with worldwide corporations and companion nations.
Badawi famous that demand for pure gasoline from totally different sectors elevated by 14% in 2025. He added that pure gasoline manufacturing fell by 25% over the past two years, whereas crude oil manufacturing decreased by 10%.
To bridge the demand-supply hole, the ministry considerably expanded its operations between July 2024 and Might 2025, drilling a complete of 75 wells. Of those, 69 had been assessed, resulting in 40 new oil and gasoline discoveries. In response to Badawi, these discoveries maintain estimated reserves of 42 million barrels (mmbbl) of oil and condensates, together with 1.3 trillion cubic toes (tcf) of pure gasoline.
He additionally famous that 12 new agreements had been signed through the 2024–2025 fiscal 12 months and the previous months involving 43 new wells. These offers are value a complete of $631 million of investments. Moreover, 15 further agreements are within the last levels of approval for 80 new wells value roughly $618 million of investments.
Badawi additionally mirrored on conferences with totally different worldwide corporations equivalent to Shell, Eni, bp, ExxonMobil, to foster cooperation and enhance investments.
Badawi famous that alternate price fluctuations have disrupted the well timed fee of international companions’ dues. Regardless of these delays, some worldwide corporations proceed working in Egypt with out withdrawing from the sector.
“The ministry’s dedication to rebuilding belief with international companions required an built-in, collaborative effort each in Egypt and overseas,” stated Badawi.
“I totally consider that overcoming this essential interval will solely occur by means of cooperation and integration with different stakeholders, together with the Ministry of Electrical energy, the Ministry of Finance and with the Central Financial institution Governor, and the Prime Minister,” he added.
Badawi mirrored on the Egypt Worldwide Vitality Present (EGYPES 2025) and the agreements signed with Saudi Arabia within the vitality effectivity and renewable vitality fields, in addition to the take care of Cyprus on growing Cypriot pure gasoline discoveries utilizing Egypt’s liquefaction infrastructure and exporting it to Europe.
Throughout the press convention, Badawi outlined the six pillars of the ministry’s technique, highlighting the significance of the mining sector and growing its contribution to Egypt’s financial progress.
He famous {that a} decade in the past most nations used to prioritize the oil and gasoline trade, however over time, the world elevated its concentrate on the mining sector amid the rising demand for extracting transitional minerals.
The ministry has just lately reworked the Egyptian Mineral Sources Authority (EMRA) into an financial entity as a way to streamline laws and framework with worldwide and personal buyers to spice up exploration actions and develop Egypt’s mineral wealth.
