Egypt’s President Reviews 5-Year Plan to Double Egypt’s Oil Output

President Abdel Fattah El-Sisi met with Prime Minister Mostafa Madbouly and Karim Badawi, Minister of Petroleum and Mineral Resources, to review Egypt’s 5-year plan for crude oil and natural gas production.

The meeting covered production across Egypt’s exploration areas, strategic petroleum product reserves and plans to maintain supplies for the domestic market. Badawi said the 5-year plan includes seismic surveys, new technologies, contracting systems and the development of undeveloped discoveries, with Egypt seeking to double its oil and condensate production.

Also, Badawi reviewed exploration, development and production activities, including projects and wells expected to come online through December 2026. He highlighted efforts to encourage international companies to increase investments following the payment of overdue amounts to foreign partners and regular payment of current dues.

The minister also discussed Mediterranean exploration and drilling plans and Italian Eni and French TotalEnergies’ final investment decision (FID) to develop Cyprus’ Cronos gas field and connect it to Egyptian infrastructure.

On refining, Badawi said Egypt plans to implement six projects worth more than $4 billion to develop existing refineries, increase production and reduce the country’s fuel import bill.

The President called for incentives to encourage partners to expand exploration, field development and production, while directing officials to turn petroleum sector targets into clear programs with measurable performance indicators.

The meeting builds on discussions in March, when El-Sisi, Madbouly and Badawi reviewed plans to increase oil and gas output through hydraulic fracturing and horizontal drilling. At the time, El-Sisi also stressed maintaining payments to international oil companies to encourage further exploration and production.