CAIRO – 17 March 2025: President Abdel Fattah El-Sisi emphasized the importance of advancing new gas explorations as he reviewed ongoing drilling activities aimed at boosting the country’s petroleum and gas reserves.
The president’s remarks came during a meeting with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources Karim Badawi on Sunday, during which Sisi instructed continued efforts to attract more foreign investments in the petroleum sector to meet rising local demand.
He highlighted the incentives provided by the state to develop gas fields and intensify exploration and production processes, the Egyptian Presidency said in a statement.
The meeting addressed new drilling and exploration activities, particularly in the Fayoum 5 oil and gas field, and highlighted several recently signed agreements to advance exploration efforts.
Discussions also covered cooperation with Cyprus in the gas sector, focusing on maximizing benefits from discovered gas reserves in Cyprus's Exclusive Economic Zone, particularly in the Cronos and Aphrodite fields.
This cooperation enables the transportation of discovered gas from Cypriot waters to Egypt, either for utilization in the domestic market or for liquefaction and export to global markets, the Presidency said.
During the Egypt Energy Show (EGYPES) 2025 held in Cairo last February, Egypt and Cyprus signed agreements allowing for the export of gas from the Cypriot offshore fields of Cronos and Aphrodite to Egyptian facilities.
The Cypriot gas will be liquefied through the existing Egyptian infrastructure, allowing for subsequent export to Europe.
Mon, Mar. 17, 2025
