Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi held meetings with senior officials from leading international energy companies on the sidelines of the ninth Egypt Energy Show (EGYPS 2026), focusing on expanding cooperation and boosting investments. BP announced plans to invest approximately $1.5 billion in Egyptian gas projects during the 2026/2027 fiscal year.
Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi held a series of meetings with high-level delegations from BP, Schlumberger, and United Energy Group on the sidelines of the ninth edition of the Egypt Energy Show (EGYPS 2026).
Badawi met William Lin, BP’s Executive Vice President for Gas and Low Carbon Energy, to review ongoing projects and discuss expansion plans in exploration, research, and natural gas production. Badawi stated that the ministry is implementing a clear strategy to create a more attractive investment environment and praised cooperation with BP, noting the state’s commitment to settling partners’ dues by the end of June. Lin affirmed BP’s pride in its long-standing partnership with Egypt, which has remained resilient despite global challenges, and expressed interest in the ministry’s digital transformation program and energy diversification efforts, particularly in frontier areas like the Red Sea.
In a separate meeting with Prime Minister Mostafa Madbouly, attended by Badawi, Lin announced BP’s plan to invest approximately $1.5 billion in Egypt during the 2026/2027 fiscal year for gas development, exploration, and new wells, with potential for more. Madbouly said the government values its strategic partnership with BP and seeks increased investments. Lin noted that recent state measures, including regular payments of dues, have stimulated further investments.
Badawi also discussed with Schlumberger CEO Olivier Le Peuch enhancing cooperation on horizontal drilling technologies and artificial intelligence to access hard-to-reach reserves, as well as ongoing seismic surveying in the Red Sea.
He met United Energy Group CEO Song Yu and Regional President for Africa Kamel El-Sawy to review oil and gas production in Egypt’s Western Desert and explore renewable energy solutions, such as solar power to reduce diesel use.