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

Deputy Prime Minister for Economic Affairs Hussein Issa and Minister of Petroleum and Mineral Resources Karim Badawi discussed on Tuesday, November 3, 2026, with UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC Sultan Ahmed Al Jaber ways to bolster the economic partnership between the two countries, particularly in the oil and natural gas sectors.

The meeting took place on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2026), in the presence of Egyptian Ambassador to the UAE Essam Ashour.

The deputy prime minister and the petroleum minister praised the distinguished and growing Egyptian-UAE relations across various fields, which have yielded extended strategic partnerships in key economic sectors, led by oil and gas.

They highlighted the participation of Egyptian petroleum companies in executing projects in the UAE and the expansion of Emirati investments in Egypt’s oil and gas activities, noting that Egypt’s participation in ADIPEC reflects the deep ties between the two nations, according to a statement issued by the Ministry of Petroleum on Tuesday.

For his part, Badawi stated that Egyptian-UAE cooperation in oil and gas serves as a model for strategic partnerships based on mutual benefit.

He highlighted both sides’ keenness to build on past successes and open new horizons for cooperation in investment, exploration and field development, alongside expanding the participation of Egyptian companies in UAE projects.

The two sides reviewed opportunities to expand the involvement of Egyptian petroleum sector companies, notably Enppi and Petrojet, in executing projects planned by the ADNOC Group for the 2026–2028 period, building on their successful track record.

The meeting also touched on Emirati investments in Egypt, including projects by Arcius Energy in the Harmattan field and West Atoll well, as well as its investments in the Zohr and North Damietta fields to support boosting domestic natural gas production during 2026 and 2027.

In exploration, both sides discussed expanding research and exploration activities, increasing the participation of XRG and Arcius in developing undeveloped blocks in the Mediterranean, participating in the 2026 global bid round and exploring opportunities in the Red Sea.

Regarding drilling operations, the meeting highlighted ADNOC Drilling’s interest in cooperating on Egypt’s five-year drilling program through coordination with the Egyptian Drilling Company to augment available rig capacity and leverage advanced technologies to achieve targeted goals.