Egypt and UAE Forge Deeper Ties: Joint Investments to Soar in Oil and Gas Sector

Egypt and the United Arab Emirates are set to significantly expand their economic partnership, with a particular focus on bolstering joint investments within the vital oil and natural gas sectors. This strategic discussion took place on Tuesday, November 3, 2026, between Egypt's Deputy Prime Minister for Economic Affairs Hussein Issa and Minister of Petroleum and Mineral Resources Karim Badawi, and UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC Sultan Ahmed Al Jaber. The meeting occurred during the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2026), with Egyptian Ambassador to the UAE Essam Ashour also in attendance.

Both Egyptian officials lauded the robust and expanding relationship between Egypt and the UAE, noting the successful strategic partnerships established across numerous economic domains, especially in oil and gas. They emphasized the contributions of Egyptian petroleum companies to projects within the UAE and the growing Emirati investments in Egypt's oil and gas industry. The statement from the Ministry of Petroleum highlighted that Egypt's presence at ADIPEC underscores the strong bilateral ties.

Minister Badawi described the cooperation between Egypt and the UAE in the oil and gas sector as a prime example of a mutually beneficial strategic partnership. He expressed a shared commitment to building upon past achievements and exploring new avenues for collaboration in investment, exploration, and field development, as well as increasing the involvement of Egyptian firms in UAE projects.

Discussions also centered on opportunities for Egyptian petroleum sector companies, specifically Enppi and Petrojet, to participate in projects planned by the ADNOC Group between 2026 and 2028, leveraging their proven expertise. Emirati investments in Egypt were also reviewed, including Arcius Energy's projects in the Harmattan field and West Atoll well, and its contributions to the Zohr and North Damietta fields, aimed at enhancing domestic natural gas production in 2026 and 2027.

In the realm of exploration, both nations agreed to intensify research and exploration activities. This includes increasing the participation of XRG and Arcius in developing untapped blocks in the Mediterranean, engaging in the 2026 global bid round, and exploring new opportunities in the Red Sea. Furthermore, regarding drilling operations, ADNOC Drilling expressed interest in collaborating with Egypt's five-year drilling program. This cooperation, to be coordinated with the Egyptian Drilling Company, aims to increase available rig capacity and utilize advanced technologies to meet production targets.