Petroleum Minister: Egypt eyes new UAE investments in oil, gas exploration

CAIRO, (UrduPoint / Pakistan Point News / WAM - 16th Jun, 2026) Karim Badawi, Minister of Petroleum and Mineral Resources of Egypt, held talks on Tuesday with a delegation from the UAE headed by Hussain Sultan Lootah, Chief Executive Officer of the Emirates National Oil Company (ENOC), and Abdulkarim Al Maazmi, Chief Executive Officer of Dragon Oil, on opportunities to expand UAE investments in Egypt’s petroleum sector.

The discussions focused on potential investments in aviation fuel supply, as well as oil and gas exploration, research and production activities.

According to a statement issued by the Ministry of Petroleum, officials from ENOC and Dragon Oil praised the Ministry’s success in settling all outstanding dues owed to investment partners.

They stressed that this achievement reflects the strength and credibility of the Egyptian state and helps bolster investor confidence while creating an attractive environment for further investments.

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Badawi said Egyptian-Emirati cooperation in the petroleum sector represents a successful model of Arab economic integration, highlighting Dragon Oil’s achievements in Egypt and its commitment to expanding its investment programs.

The minister reaffirmed Egypt’s support for deeper Emirati participation through strategic partnerships with Egyptian companies and the development of a joint roadmap to capitalise on promising opportunities, particularly in aviation fuel services.

Both sides agreed to establish a joint working group to develop an executive program for expanding Emirati investments in Egypt’s petroleum sector and assessing opportunities in aviation fuel supply and exploration activities, further strengthening the strategic partnership between the two countries.