Egypt's Minister of Petroleum to spearhead latest bid round at African Energy Week 2025
CAPE TOWN, South Africa/ -- Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, has joined the African Energy Week (AEW): Invest in African Energies 2025 conference – taking place September 29 to October 3 in Cape Town – as a speaker. His participation comes as the country advances its latest licensing round, seeking to increase production through fresh investment in offshore and onshore blocks. With the round set to close in the second half of 2025, Egypt is gearing up for accelerated growth across its upstream industry.
Egypt's latest licensing round was launched in March 2025, featuring 13 offshore and onshore blocks across key hydrocarbon regions. Available acreage includes seven undeveloped fields in the Mediterranean Sea, three offshore exploration blocks in the Gulf of Suez and three onshore exploration areas in the Western Desert. The bid round forms part of a broader strategy by the Ministry of Petroleum and Mineral Resources to attract new investment across the upstream sector and follows a previous 12-block round which closed in February 2025. During AEW: Invest in African Energies 2025, Badawi is expected to share insights into the impact these licensing rounds will have on the market.
AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit http://www.AECWeek.com for more information about this exciting event.
Egypt's bold licensing strategy comes as the country strives to mitigate production decline and support the development of high-potential blocks. Under the leadership of the Ministry of Petroleum and Mineral Resources, the country has set a target of drilling 586 oil and gas wells by 2030 and is strengthening collaboration with international partners to realize this goal. Recent deals and exploration milestones align with this strategy, indicating a positive growth trajectory for the country's upstream oil and gas sector.
Egypt approved two transactions by Russian energy firm Lukoil in May 2025, covering exploration and production rights for acreage in the South Wadi El-Sahl region of the Eastern Desert and the Wadi El-Sahl area. Energy major ExxonMobil signed an MoU for a new operational framework in the Cairo and Masry offshore concession areas of the Mediterranean Sea while energy major Eni is spearheading a $26 billion investment strategy across three North African countries – including Egypt. In terms of drilling, Eni is preparing to drill two development wells at the Zohr gas field in 2025. ExxonMobil plans to drill a new offshore gas exploration well in the North Marakia Offshore Concession. The Egyptian Natural Gas Holding Company also plans to drill 17 exploratory and evaluation wells in 2025/2026, targeting acreage in the Delta and Mediterranean Sea. The company is investing $434 million in drilling activities.
Beyond exploration, Egypt is working toward scaling-up its production and export capacity to support growing demand in both regional and international markets. As one of Africa's top gas producers, Egypt already plays an instrumental part in global supply chains, but upcoming projects stand to further consolidate its position as a global exporter. Turkey is deploying a floating storage and regasification unit (FSRU) to Egypt, which will provide LNG storage and regasification services to the country during peak demand periods in 2025. Another agreement was signed with energy infrastructure firm Höegh Evi for the supply of a FSRU, which will be situated at the Port of Sumed in Q4, 2026. The FSRU enhance the country's regasification and export capacity. Meanwhile, energy major Chevron announced plans to conduct a seabed survey in the eastern Mediterranean, aiming to develop a pipeline that will transport gas from Cyprus' Aphrodite field to processing facilities in Egypt. This will not only support regional gas monetization but cements Egypt's role as a regional petroleum hub. Badawi's insights at AEW: Invest in African Energies 2025 are expected to support both upcoming projects and efforts to integrate regional markets.
'Egypt is not only assessing short-term production strategies but implementing initiatives that ensure long-term growth across the upstream oil and gas industry. Spearheaded by Minister Badawi, the country is advancing its bold licensing strategy, offering blocks that have the potential to transform the exploration and production space. This approach signals a strong commitment by the government to establish a globally-competitive and resilient energy sector in North Africa,' states Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber.
Distributed by APO Group on behalf of African Energy Chamber.
SOURCE
African Energy Chamber
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
an hour ago
- Zawya
STATEMENT: Official visit to Ghana by H.E. Narendra Modi, Prime Minister of the Republic of India
The Presidency of the Republic of Ghana is pleased to announce that the Prime Minister of the Republic of India, His Excellency Narendra Modi, will undertake a two-day Official Visit to Ghana from Wednesday, 2nd July, to Thursday, 3rd July, 2025. The visit highlights the warm and longstanding friendly relations between Ghana and India, as well as the importance both nations place on strengthening their strategic partnership. The itinerary for the visit includes a bilateral meeting between President Mahama and Prime Minister Modi at the Presidency. The two leaders will engage in discussions aimed at deepening cooperation across various sectors, including trade, investment, agriculture, technology, education, healthcare, and energy. They will also exchange views on regional and global issues of mutual interest. Key highlights of the visit will include the signing of several bilateral agreements to consolidate cooperation frameworks between Ghana and India, followed by a joint Press Conference addressed by President Mahama and Prime Minister Modi. President Mahama will also host a State Dinner in honour of Prime Minister Modi and his delegation. The visit by Prime Minister Modi is expected to strengthen bilateral ties, foster deeper economic cooperation, and solidify the bonds of friendship between the peoples of Ghana and India. Distributed by APO Group on behalf of The Presidency, Republic of Ghana.
Zawya
2 hours ago
- Zawya
Seychelles: Courtesy Call by Ambassador Jardine and Rear Admiral Mattis on Minister Radegonde
On Friday, 27 June 2025, H.E. Henry Jardine, United States Ambassador to Seychelles, and Rear Admiral Michael Mattis, Director of Strategic Effects at U.S. Naval Forces Europe-Africa (NAVEUR-NAVAF), paid a courtesy call on Mr. Sylvestre Radegonde, Minister for Foreign Affairs and Tourism, at Maison Quéau de Quinssy. The meeting focused primarily on enhancing maritime and defence cooperation, particularly through the ongoing initiatives of NAVEUR–NAVAF. Discussions covered the challenges faced in patrolling Seychelles' Exclusive Economic Zone (EEZ) and the potential for leveraging drone technology to assist in maritime surveillance efforts. Minister Radegonde commended NAVEUR–NAVAF for its leadership in promoting maritime security in the region and for its continued support in building the capacity of the Seychelles Defence Forces through joint exercises. Notably, he highlighted the successful 2025 edition of Cutlass Express, which was conducted earlier this year under the leadership of U.S. Africa Command (AFRICOM). Minister Radegonde also expressed his appreciation for the United States' participation in this year's National Day Parade, underlining the strength of the bilateral relationship. Distributed by APO Group on behalf of Ministry of Foreign Affairs and Tourism, Republic of Seychelles.
The National
15 hours ago
- The National
DRC and Rwanda sign 'Washington Accord' peace deal
Rwanda and the Democratic Republic of Congo (DRC) signed a US-brokered peace agreement in Washington on Friday, ending three decades of conflict and ushering in billions in foreign investment to the region. President Donald Trump, flanked by his Vice President JD Vance and Secretary of State Marco Rubio, said the foreign ministers of the two countries signed the agreement in the Oval Office. "They were fighting for years, and it was machetes, it was vicious, people's heads were being chopped off," Mr Trump said at a news conference earlier on Friday. "And I have a man who's very good in that part of the world, very smart, and put them together," he said. "First time in many years, they're going to have peace. And it's a big deal." Mr Trump had enlisted the help of Massad Boulos, a Lebanese-American businessman and the father-in-law of the President's daughter Tiffany. Qatar also joined in mediating the process. Born in Lebanon, Mr Boulos has ties to Africa, having lived and owned businesses in Nigeria. Last month, Mr Boulos said the DRC and Rwanda had submitted a draft peace proposal. Speaking in the Oval Office, Mr Boulos said he had first engaged with the two sides in early April, and the final agreement will be known as the Washington Accord. "There's an economic aspect as well that is extremely important for both countries," Mr Boulos said. "There would be some bilateral agreements with negotiating a mineral deal with the DRC for critical minerals - many American companies have shown interest in investing in the DRC," he said. "Same thing with Rwanda. " The agreement would bring to an end a three-decade conflict in the eastern DRC which escalated earlier this year, when the Rwanda-backed M23 rebels seized the key cities of Goma and Bukavu. A draft of the agreement provided by the state Department includes the disengagement of Rwandan forces and the voluntary repatriation of refugees. It also called for the monthly rotating meetings between DRC and Rwanda, with the US and Qatar attending as observers. Another joint meeting was to be held in Washington within 45 days. The fighting has killed about 3,000 people and displaced hundreds of thousands of others. The DRC, United Nations and the US have long accused Rwanda of providing weapons and training to the M23 rebels. Rwanda denies supporting M23, and says its forces are acting in self-defence against the Congolese army and Hutu militias linked to the Rwandan genocide of ethnic Tutsis in 1994. The conflict is fuelled by the rich mineral resources in eastern Congo. The DRC is the world's largest producer of cobalt, a mineral used to make lithium-ion batteries for electric vehicles and smartphones. The country also has substantial gold, diamond and copper reserves. M23 and Rwanda are accused of exploiting these resources. On Thursday, Reuters reported that the DRC had dropped its demand for the immediate withdrawal of Rwandan troops, paving the way for the peace deal. Physicians for human rights, an organisation that has worked in the DRC for more than a decade, said the agreement does not ensure that hostilities would not resume through proxy armed groups, and has no reparations component. "We welcome any dialogue and de-escalation in the devastating conflict in eastern DRC, but it is important to note that the new agreement between Rwanda and DRC contains major omissions and does not adequately safeguard civilians in the region," Sam Zarifi, executive director said in a statement on Friday. "There can be no durable peace without meaningful justice. But the agreement signed today sidelines human rights and fails survivors," he said. The economic incentives involved remain unclear as Mr Trump seeks to compete with China in investing in the region's abundant mineral wealth. Mr Trump said it included the US getting "mineral rights" from the Congo. The draft agreement said it would shut down 'illicit economic pathways' and instead "formalise and audit" cross-border mineral trade.
