President Sisi underlines need to regularly pay financial dues to companies contracting with Egypt in oil and gas sector

CAIRO – 4 January 2025: President Abdel Fattah El-Sisi underlined the need to regularly pay financial dues to companies contracting with the state in the oil and gas sector. 

This came during a meeting with Prime Minister Dr. Mostafa Madbouly, Governor of the Central Bank of Egypt Mr. Hassan Abdallah, Minister of Finance Mr. Ahmed Kouchouk, and Minister of Petroleum and Mineral Resources Eng. Karim Badawi, on Saturday.

The meeting tackled the government's efforts to ensure the state's needs for petroleum products requirements are met, including those necessary for development projects, said the Presidential Spokesman Ambassador Mohamed El-Shennawy in a statement.

The President also stressed the need to intensify government efforts to meet citizens’ needs in various sectors, as well as advancing efforts aimed at boosting economic growth and national income so as to contribute to building a strong and investment-attractive economy.

President Sisi emphasized the importance of continuing the development of newly discovered wells and including them in the production plan, as well as intensifying exploration activities in Egypt's onshore and offshore areas.

The meeting also addressed the latest developments pertinent to cooperation between the government, global companies, and local investors in the petroleum and gas sectors. It also reviewed outcomes of efforts to attract private sector investments to expand in this domain.

Additionally, the discussions covered steps taken to expand regional cooperation in the fields of petroleum and gas in the coming phase and open new prospects for collaboration and investment in this area.