Egypt, UAE discuss expanding joint investments in oil, gas sector

On Tuesday, November 3, 2026, Egypt's Deputy Prime Minister for Economic Affairs, Hussein Issa, and the Minister of Petroleum and Mineral Resources, Karim Badawi, met with UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC, Sultan Ahmed Al Jaber. The discussions took place during the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2026), attended by Egyptian Ambassador to the UAE, Essam Ashour.

Both countries praised the robust and expanding relationship between Egypt and the UAE, particularly in the oil and gas sectors, which has led to significant strategic partnerships.

The ministers highlighted the involvement of Egyptian petroleum companies in UAE projects and the UAE's growing investments in Egypt's oil and gas industry. They emphasized that Egypt's presence at ADIPEC demonstrated the strong ties between the two nations. Karim Badawi stressed that the cooperation in oil and gas was a model for mutually beneficial strategic partnerships, with both sides eager to build upon past successes and explore new opportunities.

The meeting reviewed potential ways to increase the involvement of Egyptian companies, such as Enppi and Petrojet, in ADNOC Group's projects for the 2026-2028 period. Discussions also covered Emirati investments in Egypt, including projects in the Harmattan field, West Atoll well, Zohr, and North Damietta fields, aimed at boosting domestic natural gas production in 2026 and 2027.

Both sides agreed to expand research and exploration activities, increase participation in the 2026 global bid round, and explore opportunities in the Red Sea region.

Regarding drilling operations, the meeting noted ADNOC Drilling's interest in collaborating on Egypt's five-year drilling program. Coordination with the Egyptian Drilling Company was proposed to increase rig capacity and leverage advanced technologies to meet the set objectives.