Egypt Secures $17bn in Foreign Investment for Petroleum Sector Expansion
Egypt has secured more than $17 billion in fore...
Wednesday, 08 July 2026
From the European Bank for Reconstruction and Development (EBRD), led by Gianpiero Nacci, Managing Director for Climate Strategy and Delivery, and Mark Davis, Managing Director for the Southern and Eastern Mediterranean (SEMED) region. The meeting focused on strengthening cooperation and supporting joint efforts to improve energy efficiency, reduce emissions, and advance the energy transition.
During the meeting, El Batal praised the partnership between the Ministry and EBRD. He stated that EBRD is one of the Ministry’s strategic development partners, having contributed to supporting the implementation of projects and capacity-building programs in areas like improving energy efficiency and reducing emissions within the petroleum sector.
Discussions also covered ways to provide technical support for advancing work in key areas such as methane emission reduction, carbon capture, utilization and storage (CCUS), and expanding the use of renewable energy within affiliated companies. The talks further explored improving energy consumption efficiency by enhancing integration among companies operating in different geographical areas.
The meeting parties agreed on the continued support from the Bank in preparing commercial studies related to the Sustainable Aviation Fuel (SAF) project, particularly in light of the positive results and indicators revealed by the project’s feasibility study, which was funded by the Bank.
For their part, officials from EBRD affirmed their interest in continuing to support the efforts and activities of companies affiliated with the Ministry of Petroleum and Mineral Resources in reducing emissions and energy transition. They also expressed their eagerness to open new avenues of cooperation with the Ministry in this regard.
At the end of the meeting, it was agreed to hold a series of follow-up meetings with specialized working teams from the Bank. These meetings will focus on discussing the necessary scope of work for each area and assessing the implementation status. This aligns with the directives of the Minister of Petroleum and Mineral Resources to enhance cooperation with international financing institutions to support the achievement of comprehensive sustainable development goals and optimal utilization of energy resources.
