Egypt’s Petroleum and Mining Exports Surge 73% as Government Pushes Production Recovery

Egypt’s petroleum and mining exports rose 73 per cent year on year to $5.29 billion in the first half of 2026, as the government steps up efforts to revive oil and gas production and attract new investment into the country’s natural resources sector.

Petroleum Minister Karim Badawy said petrochemical exports also increased during the period, reaching 2.7 million tonnes worth $1.8 billion, compared with 2.5 million tonnes valued at $1.6 billion previously.

The government is seeking to expand higher-value and environmentally focused production, with new projects targeting sustainable aviation fuel, silicon derivatives, sodium bicarbonate and bioethanol.

Petrochemical production increased from 4.2 million tonnes in the 2024/2025 fiscal year to 4.6 million tonnes in 2025/2026, according to the Ministry of Petroleum and Mineral Resources.

Egypt is also preparing for a major expansion in oil and gas exploration. The petroleum sector has set a target of increasing exploration and production activities by 20 per cent in 2026 as part of a five-year strategy aimed at restoring output growth.

The plan includes faster drilling programmes and wider use of modern technologies to improve production from existing fields and identify new reserves.

The ministry has launched an international bid round covering 14 oil and gas exploration blocks. The tender is designed to attract fresh investment and support efforts to raise domestic production.

Badawy said 149 exploratory wells drilled during the past two years had resulted in 112 discoveries. The government is also preparing 13 new agreements expected to attract more than $1 billion in investment.

Egypt’s mining industry is another key area of expansion. Badawy said plans to transform the Mineral Resources Authority into an economic entity, under the proposed name Mineral Resources and Mining Industries Authority, would make it easier for investors to enter the sector.

The government is promoting exploration for gold, phosphate and other minerals through an open-sector mining model. Officials are also seeking to increase domestic processing of phosphate before export to capture greater value. Egypt is estimated to hold the world’s third-largest phosphate reserves.

The Egypt Mining Forum, scheduled for September 28, is expected to bring together investors and industry representatives as the government presents new opportunities in the sector.

Badawy also highlighted progress in expanding natural gas access. During the 2025/2026 fiscal year, gas is expected to reach 804,000 homes, reducing the need for around 14 million butane cylinders.

Egypt’s renewed push comes after several years of declining oil and gas production. Badawy attributed the downturn between mid-2021 and mid-2024 partly to reduced investment caused by accumulated unpaid dues to production partners.

The government has since settled those outstanding payments, helping restore investor confidence and creating conditions for companies to increase spending on exploration and production.

Officials now expect increased drilling, new discoveries and investment in processing industries to support a broader recovery in Egypt’s petroleum and mining sectors.