President El-Sisi Meets with Officials to Discuss Petroleum Sector Development
President Abdel Fattah El-Sisi recently held a meeting with key officials including Prime Minister Dr. Mostafa Madbouly, Governor of the Central Bank of Egypt Mr. Hassan Abdallah, Minister of Finance Mr. Ahmed Kouchouk, and Minister of Petroleum and Mineral Resources Eng. Karim Badawi.
The focus of the meeting, as announced by the Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, was on the government’s efforts to ensure the state’s petroleum product needs are met for development projects. The discussions also included providing necessary funds for efficient operations in the sector and increasing domestic production of petroleum and gas resources.
President El-Sisi stressed the importance of developing newly discovered wells and incorporating them into the production plan, as well as intensifying exploration activities in both onshore and offshore areas of Egypt.
Furthermore, the meeting addressed the ongoing cooperation between the government, global companies, and local investors in the petroleum and gas sectors. Efforts to attract private sector investments and expand regional collaboration were also discussed.
President El-Sisi highlighted the significance of timely payments to companies contracted by the state in the oil and gas sector. He also emphasized the government’s commitment to meeting citizens’ needs across various sectors, enhancing economic growth, and increasing national income to build a robust and attractive economy for investment.
Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.
