The developments were outlined on Monday during discussions between Deputy Prime Minister for Economic Affairs Hussein Issa and Chitose Noguchi, Resident Representative of the United Nations Development Programme (UNDP) in Egypt, at the government headquarters in the New Administrative Capital.

Noguchi detailed the UNDP’s provision of technical assistance for Egypt’s green transition and renewable energy projects, specifically highlighting the 200-megawatt solar initiative aimed at promoting the energy transition within state-owned industrial facilities.

Addressing the country’s macroeconomic strategy, Issa stated that the government’s primary objective is to maintain stability by ensuring the sustainability of fiscal and monetary policy, enhancing economic governance, and supporting the private sector. He noted that state policies are designed to stimulate the private sector, expand its participation, and encourage it to lead sustainable economic growth, thereby enhancing the competitiveness, productivity, efficiency, and transparency of the Egyptian economy.

The Deputy Prime Minister pointed to the State Ownership Policy document, which he said maximises the private sector’s role as a fundamental partner in achieving growth, creating employment opportunities, and boosting Egypt’s regional and international competitiveness. He added that ongoing structural reforms targeting economic authorities are intended to improve their performance, elevate institutional efficiency, and secure the financial sustainability of various state-owned assets.

Emphasising the government’s support for micro, small, and medium-sized enterprises (MSMEs) and reviewing efforts to expedite procedures for investors, Issa said: “The entrepreneurship file is a fundamental pillar for supporting growth, and all national entities are working to facilitate various procedures for innovative projects, provide incentives for them, and provide a stimulating enabling environment for the growth of startups and enable them to play their role in accelerating development.”

In response, Noguchi expressed appreciation for the government’s efforts. “We are keen to deepen cooperation with Egypt in the future,” she said.

Noguchi confirmed that the UNDP supports the achievement of sustainable development goals in Egypt by backing economic governance policies, structural reforms, development financing, private sector support, institutional capacity building, and the green transition.

Discussing the programme’s expertise in encouraging startups, Noguchi highlighted its cooperation with the Medium, Small and Micro Enterprise Development Agency. She stressed that the UNDP focuses on providing technical support to improve the enabling environment for SMEs, applying global standards to facilitate access to financing tools and knowledge to foster sustainable growth.

Concluding the talks, Issa asserted that the ultimate objective of the government’s measures is to raise citizens’ living standards, noting the UNDP’s important role in supporting this aim.

“All economic activities and policies aim to improve the quality of life of the citizen,” Issa said.

The meeting was also attended by Samar Al-Ahdal, Deputy Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates for International Cooperation; Mohamed Bayumi, Assistant Resident Representative and Head of the Climate Change and Environment Programme at UNDP Egypt; and Reham Youssef, Policy and Partnerships Team Leader at UNDP Egypt.

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In a meeting with Prime Minister Mostafa Madbouly and Electricity Minister Mahmoud Esmat, Al-Sisi examined progress on solar and wind projects and discussed measures to strengthen the national electricity grid. Esmat presented a roadmap to reduce reliance on fossil fuels, outlining projects scheduled for completion over the next two years as well as longer-term initiatives extending to 2040.

Among the projects highlighted were the second phase of the 500-megawatt Obelisk solar plant in Nag Hammadi, due to connect to the grid in May; the 900-megawatt Ras Shukeir wind farm, scheduled for completion in 2027; and a 1,700-megawatt solar complex in Minya. Plans also include grid-connected and standalone energy storage stations in Minya, Alexandria, and Qena with a combined capacity of 4,000 megawatts.

Al-Sisi stressed the importance of adhering to project timelines to ensure grid stability and flexibility. He also emphasized expanding private sector participation, citing the Gabal El Zeit wind power complex, which has a capacity of around 580 megawatts.

The presidency noted that discussions covered efforts to localize the manufacturing of renewable energy equipment and components, as well as expanding the use of solar systems in factories to ease pressure on the national grid. Al-Sisi directed the government to intensify investment promotion in the energy sector while maintaining a carefully planned expansion of renewable projects and reducing dependence on conventional fuels.

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The signing ceremony was attended by Karim Badawi, Minister of Petroleum and Mineral Resources; François Cortex, TotalEnergies’ Exploration Director for the Middle East and North Africa; and Jérémy Soul, the company’s Exploration Director for the Eastern Mediterranean.

The MoU was signed by Sayed Selim, Executive Managing Director of the Egyptian Natural Gas Holding Company (EGAS), and Pascal Breant, General Manager of TotalEnergies in Egypt and Cyprus.

Madbouly reaffirmed the government’s commitment to attracting further investments in exploration and research activities through incentives and facilities offered to international partners. He said these efforts are aimed at increasing investments in new discoveries and accelerating the development of existing fields, thereby boosting domestic production and reducing Egypt’s energy import bill.

The prime minister added that his recent meetings with executives of international oil companies during the Egypt Energy Show conveyed clear assurances regarding the state’s commitment to fostering an attractive investment climate for the energy sector, encouraging partners to expand their activities in Egypt’s oil and gas industry.

For his part, Petroleum Minister Karim Badawi said the MoU establishes a framework for technical cooperation between both sides, including preliminary natural gas exploration studies and subsea technical assessments. He noted that the agreement is expected to pave the way for practical exploration activities in the region while helping reduce investment risks.

Badawi said the agreement with TotalEnergies is the culmination of intensive high-level discussions that began during the visit of the company’s Chief Executive Officer Patrick Pouyanne to Cairo for the opening of this year’s EGYPES conference. Discussions focused on the company’s broader return to gas exploration activities in Egypt, particularly in the western Mediterranean, as well as opportunities created by the sector’s investment incentives and ongoing reforms.

He welcomed TotalEnergies’ return to gas exploration in Egypt, describing the partnership with the global energy company as a key outcome of the ministry’s efforts to create a more attractive investment environment through incentives, diversified regulatory frameworks and the settlement of outstanding dues owed to partners.

According to Badawi, these measures have helped restore confidence among international energy companies and encouraged them to expand exploration, field development and drilling activities in support of increasing domestic production and strengthening local energy security.

The minister added that the petroleum sector is continuing to offer attractive investment opportunities for strategic partners to intensify exploration activities and support the growth of Egypt’s natural gas resources as part of the ministry’s strategy to gradually increase domestic production.

He also stressed that the Mediterranean remains a priority area for expanding gas exploration activities, given its significant untapped potential, in addition to Egypt’s advanced infrastructure and accumulated expertise, which position the country to deepen cooperation with major international energy companies in the sector.

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The proposed June session aims to provide a platform for dialogue on the continent’s energy priorities, support development projects, and enhance African integration in the energy sector.

During the talks, Egyptian Minister of Petroleum and Mineral Resources Karim Badawi and APPO Secretary-General Farid Ghazali reviewed the latest developments regarding the launch of the African Energy Bank. The two sides exchanged views on the executive steps required to launch the bank, a strategic APPO initiative, and its expected role in financing oil and gas projects across the continent.

Badawi highlighted the necessity of joint work to confront Africa’s energy challenges, particularly regarding the provision of necessary funding for infrastructure projects. He noted that the continent possesses promising opportunities and substantial resources that require deepened cooperation and the exchange of expertise among member states.

Addressing regional cooperation, the meeting focused on capacity building via training centres and leveraging Egyptian expertise to qualify African personnel. Ghazali announced the impending launch of the African training platform within the continent by the end of the current year, praising Egypt’s role in supporting joint African action and noting the benefit of its successful experience in developing the energy sector.

Badawi stated that Egypt possesses a strong base of national companies specialised in oil and gas infrastructure, specifically naming Enppi, Petrojet, EPROM, San Misr, the Egyptian Drilling Company, and the Modern Drilling Company. He said these firms have successfully executed major domestic and international projects, enhancing their capacity to contribute to African energy and infrastructure plans and transfer expertise.

Ghazali expressed his appreciation for Egypt’s support of APPO’s activities and praised the country’s advanced infrastructure and the global reputation of its national companies. He affirmed the organisation’s desire to expand cooperation with Egypt and other member states, particularly in the training sector.

The meeting marked Ghazali’s first visit to Cairo since assuming his post. Badawi welcomed the secretary-general, expressing his pride in the cooperative relations between APPO, Egypt, and all African nations. He highlighted APPO’s commitment to supporting efforts that maximise the utilisation of the continent’s resources to achieve economic development and secure the energy needs of African peoples.

The talks to boost Egyptian-African integration in the oil, gas, and energy sectors were also attended by Ihab Ragai, First Undersecretary of the Ministry for Production and Egypt’s representative on the APPO Executive Board, and Salah Abdel Karim, Chief Executive Officer of the Egyptian General Petroleum Corporation.

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The confirmation of funding, aimed at meeting domestic and industrial electricity needs, was detailed during discussions led by Prime Minister Mostafa Madbouly with the ministers of electricity, finance, and petroleum regarding the state’s energy requirements.

Finance Minister Ahmed Kouchouk confirmed the required funding is available in accordance with agreements made with the relevant ministries. He stated that the finance ministry is working to increase investments in the energy sector to support the Egyptian economy and is committed to backing efforts to achieve more sustainable energy security.

Securing petroleum and natural gas supplies for citizens is a top priority, Minister of Petroleum and Mineral Resources Karim Badawi said. He noted that the ministry is working with partners to accelerate local exploration and production, and to expedite placing new discoveries on the production map.

Badawi added that the ministry is integrating the development of the petroleum transmission pipeline network with plans to meet product needs over the next five years. This integration, along with plans to upgrade oil refineries, aims to reduce the country’s import bill and ensure the network’s readiness.

In a move to reduce reliance on traditional fossil fuels, Minister of Electricity and Renewable Energy Mahmoud Esmat presented a preliminary proposal for an initiative to encourage factories to install solar cell systems for internal electricity generation. The initiative, currently under study prior to its launch in cooperation with other state bodies, aims to diversify energy sources and ease loads on the unified power grid.

Esmat also outlined the latest developments in the government’s plan to increase clean energy’s contribution to 45% of the energy mix by 2028. He reviewed the executive status of renewable energy projects for the next two years and future project plans up to 2040.

Concluding the discussions, Madbouly directed continuous coordination among the three ministries to permanently guarantee financial allocations for fuel provision. He also ordered accelerated steps to introduce additional clean energy capacities and to secure their necessary funding to stabilise the national grid.

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The meeting focused on the latest developments of solar and wind power projects, in addition to connected and BESS with a total storage capacity of 2,100 MWh. The projects are being implemented in Zaafarana, Ras Shukeir, and Benban as part of Egypt’s broader strategy for energy transition and expansion in renewable energy generation and storage technologies.

The discussions came within the framework of the government’s plan to increase the share of clean energy in the national electricity mix to 45% by 2028, while reducing dependence on fossil fuels and enhancing the stability and reliability of the unified national grid.

The meeting also reviewed the operational status of projects already connected to the grid, including the 500 MW Kom Ombo solar power plant in Aswan and its associated 300 MWh BESS, as well as the 500 MW wind farm project in the Gulf of Suez region.

In addition, the talks addressed implementation updates and execution timelines for several major renewable energy projects currently under development. These include the 500 MW Amunet 2 wind farm project in Ras Shukeir and the 1,000 MW Abydos 2 solar power project in the Benban area, alongside connected battery storage systems with a combined capacity of 600 MWh.

The two sides also discussed progress on BESS projects, including a 500 MWh facility in Zaafarana and a 1,000 MWh standalone storage project in Benban.

During the meeting, both parties stressed the importance of adhering to implementation schedules, accelerating project execution procedures, and ensuring timely grid connection. They highlighted the growing role of energy storage systems in improving grid stability and maximising returns from renewable energy generation.

Esmat reaffirmed the ministry’s commitment to maximising the utilisation of Egypt’s abundant renewable energy resources, noting that the government is moving forward with a carefully planned expansion of both connected and standalone energy storage systems.

He added that the electricity sector is taking the necessary measures to accelerate the rollout of solar and wind energy projects as part of the state’s broader strategy to reduce fuel consumption, support grid stability, and achieve sustainable development objectives.

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According to the Ministry of Petroleum and Mineral Resources, the well has yielded a new natural gas discovery estimated at around 2 trillion cubic feet (tcf), alongside approximately 130 million barrels of condensates.

Madbouly was accompanied by Karim Badawi, Minister of Petroleum and Mineral Resources, as well as senior officials from the petroleum sector and representatives of Eni, the main investor in the concession, in partnership with BP.

During the visit, Madbouly said the government is working to localise advanced technologies to enhance oil and gas production, in cooperation with international partners and service providers. He added that President Abdel Fattah Al-Sisi has directed the development of a comprehensive framework to advance exploration, research, and production activities, with the aim of meeting domestic demand and reducing reliance on imports.

He also noted that the government is continuing efforts to settle outstanding dues owed to foreign energy companies, alongside initiatives to attract further investment into the sector. These efforts run in parallel with strengthening infrastructure for liquefied natural gas (LNG) imports and regasification, while boosting domestic production.

For his part, Badawi said the Dennis discovery reflects the impact of the ministry’s programme to settle partner dues and introduce new incentives aimed at accelerating investment in the oil and gas sector.

He indicated that all outstanding payments are expected to be settled by the end of June, in line with presidential directives, to enhance investor confidence and encourage further exploration and production.

Badawi added that the discovery was supported by a revised agreement with partners in the Temsah concession last year, which helped accelerate drilling operations. The find is considered among the most significant in recent years and is expected to support efforts to increase local output and reduce import costs.

He also highlighted ongoing cooperation with international partners, pointing to announced investment plans of around $8bn by Eni, $5bn by BP, and $2bn by UAE-based Arcius, in addition to expanded exploration activities by Shell in the Mediterranean and by Apache Corporation in Egypt’s Western Desert.

During the tour, Madbouly inspected the rig and its main control room and was briefed on its technical capabilities. The rig is operated by Modern Drilling Company using advanced offshore drilling technologies.

He also received a detailed presentation on operations in the Temsah concession from officials at Petrobel, who explained that the well was drilled in water depths of around 98 metres using directional drilling techniques to reach depths exceeding 4,000 metres and access gas-bearing formations.

The Prime Minister concluded the visit by meeting workers from Petrobel and Modern Drilling Company, commending their efforts in operating under complex offshore conditions and highlighting their role in supporting Egypt’s drive to boost production and secure new energy discoveries.

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Minister of Petroleum and Mineral Resources Karim Badawi inspected the EDC-56 drilling rig that carried out operations in the West Abu Madi area of Kafr El Sheikh governorate, around 3 km offshore in shallow waters at a depth of approximately 10 metres. The well was drilled from onshore using advanced directional drilling technologies, helping reduce costs and improve operational efficiency.

The minister said the discovery, alongside increased output from existing fields, reflects the success of the petroleum sector in settling outstanding dues to foreign partners, with full clearance targeted by the end of June. He added that this progress demonstrates the state’s commitment to strengthening confidence with international partners and improving the investment climate.

Badawi noted that the regular settlement of dues has encouraged partners to intensify exploration activities, increase drilling and production rates, and expand the development of mature fields through extended concession agreements, thereby attracting new investment to the sector.

He also pointed out that the well’s proximity to existing infrastructure—less than 2 km from the nearest production facilities—will allow it to be quickly connected to the network within weeks, enabling early production and improving capital efficiency.

The minister added that the discovery represents a model for maximising the use of existing infrastructure, increasing production, and supporting domestic gas supply. It also reflects continued exploration success by Eni across its concession areas.

The West Abu Madi development area is operated by Eni in partnership with BP and the Egyptian General Petroleum Corporation through Petrobel, a joint venture between EGPC and Eni.

On a different note, Badawi revealed that the debt owed to international investment partners in oil and gas production has fallen sharply from $6.1bn in June 2024 to about $714m in April 2026, bringing the sector closer to achieving “zero arrears” by the end of next June.

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The scope of work includes two Advanced Gas Path (AGP) upgrades for GE Vernova 9F gas turbines at the Banha power plant, alongside multi-year service agreements for both facilities, with durations of 15 years for Banha and eight years for Nubaria.

The projects are expected to support the modernisation of Egypt’s power generation infrastructure, enhancing operational efficiency and reliability. The order was booked in the first quarter of 2026, with execution expected to take place over a three-year period.

According to MDEPC, the upgrades are projected to increase the output of each gas turbine while improving efficiency by around 2%, enabling additional power generation with more efficient fuel use and potentially reducing carbon emissions per megawatt-hour.

“This modernisation highlights the potential benefits that Advanced Gas Path technology can bring to F-class gas turbine units in Egypt,” said Mohamed El-Abd, Chairman of MDEPC.

Joseph Anis, President and CEO for Europe, the Middle East and Africa at GE Vernova’s Gas Power business, said: “Improving the efficiency, availability, and operational performance of existing generation assets plays a critical role in meeting rising electricity demand and supporting broader power system objectives.”

He added that AGP upgrades can help operators boost output, extend maintenance intervals, and enhance efficiency, contributing to more reliable power generation.

GE Vernova has supported Egypt’s electricity sector for more than 50 years, providing technologies, services, and financing solutions, while also contributing to local talent development.

The company’s installed base in Egypt includes more than 60 gas and steam turbines, with a combined generation capacity of around 10 gigawatts, spanning power generation, transmission, and digital solutions.

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Speaking at the opening of the OECD Critical Minerals Forum in Istanbul, Minister Karim Badawi announced that the upcoming survey will be the first project of its kind since 1984. He noted that providing accurate geological data is a fundamental pillar for evaluating mineral resources, offering attractive investment opportunities, and accelerating investors’ decision-making processes.

During a high-level ministerial panel, Badawi stated that the government has placed the mining sector at the core of its current priorities, recognising its significant opportunities and economic value. To achieve its GDP target, the state is working to unlock the sector’s full potential, develop work mechanisms, and improve the investment climate, he added.

Egypt is developing a more stable and attractive investment environment by updating legislative and contractual frameworks to align with global best practices, the minister explained. This includes providing appropriate incentives for both large and medium-sized companies.

Badawi highlighted the country’s strong fundamentals for developing the sector, pointing to a mineral-rich geology with formations extending towards Saudi Arabia and neighbouring countries. He also cited unique infrastructure capable of converting mining potential into economic value, whether through transport and export or the localisation of mining and raw material-related industries.

This industrial development is supported by the availability of diverse energy sources and an expansion in renewable energy, Badawi said, noting the state’s plan to accelerate the increased contribution of renewables in the electricity mix by 2028 instead of 2030.

The minister emphasised the importance of an integrated system of cooperation between governments, the private sector, and industrial institutions to ensure the deployment of the latest technologies for full mineral utilisation. He highlighted the growing role of modern technology and artificial intelligence in accessing previously unknown resources, lowering risks, and accelerating exploration and mining operations.

Furthermore, Badawi called for joint action to innovate commercial models for large-scale mineral exploitation, stating this would positively impact efforts to overcome challenges in cross-border cooperation for mineral utilisation and the establishment of related manufacturing industries.

The forum was attended by high-level international figures, including OECD Secretary-General Mathias Cormann, Turkish Minister of Energy and Natural Resources Alparslan Bayraktar, Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef, Senior Advisor to the U.S. Secretary of Energy Mike Kobb, International Council on Mining and Metals (ICMM) President and CEO Rohitesh Dhawan, and the Philippine Undersecretary of Industry.

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