El-Sisi reviews plans to boost oil, gas output

President Abdel-Fattah El-Sisi met with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources Karim Badawi to discuss efforts for boosting oil and gas production through hydraulic fracturing and horizontal drilling, according to a statement.

Badawi said the petroleum sector is accelerating the adoption of advanced technologies to access oil and gas resources that are difficult to exploit using traditional methods.

For his part, El-Sisi stressed the need to localize modern technologies that increase productivity, as successful global and regional experiences.

The president also called for creating appropriate mechanisms to ensure optimal economic implementation in cooperation with major drilling and technology service companies, as well as production partners.

The meeting addressed the work program for an aerial survey of mineral resources to expand investments in the mining sector.

Spokesman for the Presidency Mohamed El-Shennawy noted that the meeting also reviewed recent movements in petroleum product and gas prices amid escalating regional events.