Egypt and the UAE have discussed expanding Emirati investment in Egypt’s petroleum sector during talks between Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi and a UAE delegation led by Hussain Sultan Lootah, Chief Executive Officer of the Emirates National Oil Company (ENOC), and Abdulkarim Al Maazmi, CEO of Dragon Oil.

The discussions focused on potential cooperation in aviation fuel supply, as well as oil and gas exploration, production and research activities. According to a statement from Egypt’s Ministry of Petroleum, representatives from ENOC and Dragon Oil commended Egypt’s efforts to settle outstanding dues owed to investment partners, saying the move strengthens investor confidence and enhances the country’s investment climate.

Badawi described Egyptian-Emirati cooperation in the sector as a model of Arab economic integration, highlighting Dragon Oil’s existing operations in Egypt and its plans to expand further.

He reaffirmed Egypt’s support for deeper Emirati participation through strategic partnerships with local companies and a joint roadmap targeting new opportunities, particularly in aviation fuel services.

Both sides agreed to establish a joint working group to develop an executive programme for expanding Emirati investments and assessing opportunities in exploration and fuel supply.

The initiative is expected to further strengthen energy cooperation and bilateral economic ties between the two countries. -OGN/TradeArabia News Service