Tuesday 30/Sep/2025 – 07:43 PM
Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, said that Egypt is on the right path towards increasing oil and gas production and encouraging investment, noting that the regularity of paying dues to foreign companies had a positive impact to expand its activities and increase their investments, which contributed to the start of increasing production rates and reducing the import bill.
This came during his meeting with Iman Hill, General Manager of the American Falco Energy Company in Egypt, in the presence of Eng. Ihab Rajai, the first undersecretary of the Ministry of Petroleum for Production, where the minister praised the company’s business and its plans to increase production from the eastern desert fields, and expressed his desire to increase its investments in Egypt, and benefit from the investment opportunities available to work in new regions.
He also reviewed with the general manager of the company its plans to use renewable energy sources in its work sites in the eastern desert and link production facilities in it, praising the positive repercussions that this achieves on reducing liquid fuel consumption, reducing carbon emissions and achieving environmental sustainability.
For its part, Iman Hill expressed her appreciation for the great support that the Ministry of Petroleum and Mineral Resources attaches, stressing that the regularity of the payment of dues encouraged the company to intensify its business in the Eastern Desert through an ambitious program that started last December, and stimulated it to pay attention to expanding in new areas in light of the investment environment favorable in the Egyptian oil sector, as well as increasing the company’s work team by relying on Egyptian cadres with the highest degree of the highest degree than Knowledge of the latest technologies and artificial intelligence, which was reflected in the accuracy of work and production, stressing that the company is in the process of carrying out a project to link and operate three wells with solar energy and link productive facilities with renewable energy sources of solar energy and wind, and also indicated the ongoing work in the southern Ghazal region in Western Sahara, one of the company’s concession areas in Egypt.
At the end of the meeting, the minister expressed his happiness with the story of the company’s success in Egypt, stressing his full support for its expansion plans, expressing his aspiration to visit its production fields in the West Bakr region in the eastern desert.
