The minister reviewed the status of agreements signed to secure crude shipments from abroad.
Badawi said the platform will cover all stages related to mining investment opportunities, starting from expressions of interest, through evaluation and assessment procedures, and ending with the electronic issuance of all licenses.
According to the ministry, the first agreement reassigns the North Sinai Offshore area to Prenco Egypt, with planned investments of $46 million for drilling three wells, along with a $1 million signature bonus.
The program, expected to begin next year, aims to accelerate the development and production of Egypt’s natural gas reserves by leveraging existing infrastructure in the West Nile Delta region.
Badawi attributed the savings to a surge in domestic fuel output, which he said has been supported by the ministry’s strategic initiatives
