According to a presidential statement, the meeting focused on the progress of Egyptian companies in ramping up production via hydraulic fracturing and horizontal drilling.
Minister Badawi noted that the ministry is accelerating the deployment of both technologies to tap reserves unreachable by conventional methods, aiming for a significant increase in crude oil and gas extraction.
President El-Sisi called for the adoption and localization of modern drilling technologies, citing successful global and regional models.
He emphasized the need for mechanisms that ensure cost-effective implementation, achieved through cooperation with major technology service providers and production partners.
The discussions also covered the ministry’s aerial survey program for mineral resources.
On Thursday, the Egyptian cabinet approved a contract between the Mineral Resources and Mining Industries Authority and International infrastructure supplier X-Calibur to conduct comprehensive geophysical surveys across six zones covering all of Egypt.
The move is part of the ministry’s strategy to modernize the mining sector and maximize its contribution to the national economy.
Energy prices, supply chains
Meanwhile, El-Sisi discussed with Madbouly and Badwi recent increases in domestic oil and gas prices, which have risen amid escalating regional tensions and disruptions to global energy markets.
Effective Tuesday, the government increased fuel and gas prices by 14 percent to 30 percent as global crude prices surged to over $90 per barrel, up from previous levels of $60–$70, driven by the ongoing US-Israel war on Iran.
During today’s meeting, President El-Sisi was briefed on measures to secure adequate petroleum supplies for industrial use, power plants, and residential needs.
Minister Badawi reaffirmed the sector’s commitment to clearing outstanding payments owed to foreign partners.
He stated that the ministry is ensuring regular monthly invoice settlements to prevent future arrears and is engaging in ongoing consultations with investors to create mutually beneficial frameworks.
El-Sisi concluded by underlining the importance of keeping payments to international oil companies current to encourage further exploration.
He called for a robust mechanism to expand development activities, ultimately reducing Egypt’s dependence on energy imports.
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