The Minister of Petroleum and Mineral Resources, Karim Badawi, unveiled a series of strategic initiatives at a general session of the Egyptian Senate, signalling a new phase of development in the energy and mining sectors.
At the heart of the announcements was the resumption of development activities at the Zohr gas field, accompanied by the imminent drilling of two new development wells this month. This marks an important step in Egypt's strategy to increase domestic natural gas production and meet growing energy needs.
The Minister also announced the launch, in 2025, of a digital portal dedicated to mining resources, aimed at simplifying access to information and encouraging investment. At the same time, new mining zones will be opened up to investors, making the sector more attractive and consolidating its role in the national economy.
Karim Badawi presented a ministerial strategy based on six key areas:
1. Meet citizens' needs for petroleum products at reduced cost.
2. Increase production and step up exploration programmes.
3. Optimising refining and petrochemicals infrastructures.
4. Increase the contribution of mining resources to GDP.
5. Reorganise the energy mix in collaboration with the Ministry of Electricity, with a view to achieving 42% renewable energy by 2030.
6. Increase the use of natural gas, both in homes and vehicles.
The Minister highlighted Egypt's vast mineral resources, particularly in the northern and southern regions, the eastern desert and the Sinai Peninsula. These areas are rich in minerals such as phosphate, iron, zinc, kaolin and coal, offering significant opportunities for exploitation.
There are currently 150 mining companies operating in the country, including eight multinationals specialising in gold. In this context, the Minister revealed the preliminary signature of a framework agreement with Barrick Gold Corporation, granting the company concessions for gold mining.
A bill to modernise mining agreements was also announced. This initiative focuses on exploration and research, with the aim of making the sector more attractive to investors, while bringing it into line with international standards.
The action plan presented for 2025 focuses on several priorities:
- Reducing the import bill for petroleum products.
- Increasing refining and petrochemicals capacity.
- Intensification of exploration programmes.
- Accelerating electrification based on renewable energies.
These measures aim to position Egypt as a regional leader in the energy and mining sectors, while supporting sustainable economic growth.
With these initiatives, Egypt is confirming its commitment to exploiting its natural resources to the full while promoting inclusive and sustainable economic development.
