EGYPT · OIL & GAS
Key Facts
- —What is happening Egyptian media say Petroleum Minister Karim Badawi met three energy-firm chiefs at ADIPEC on 3 November.
- —Why it matters Egypt wants to lift output by developing existing fields and bringing new discoveries online faster.
- —The numbers Three firms met; a September target was 330 million cubic feet a day of added gas.
- —Who is who Baker Hughes and Halliburton are US oilfield-service firms; United Energy Group is Hong Kong-based.
- —What to watch Which fields Halliburton picks for fracturing pilots and what United Energy Group bids in Egypt’s new round.
- —What it means for you No contract values were announced, so US investors in the two firms get no earnings signal.
Egyptian media say Egypt’s petroleum minister held talks with three global energy firms in Abu Dhabi on Tuesday. The aim is to speed up oil and gas production at home.
Egypt’s petroleum minister, Karim Badawi, met the heads of three energy firms on Tuesday, 3 November, Egyptian media say. They were Baker Hughes, Halliburton and United Energy Group.
The talks matter because Egypt is trying to lift its domestic oil and gas output. Two of the three firms are US oilfield-service companies, so the story touches US readers.
What Was Discussed
The meetings took place on the sidelines of ADIPEC, the Abu Dhabi International Petroleum Exhibition and Conference. It runs from 2 to 5 November at the ADNEC Centre.
Egyptian press reports say the talks covered exploration, field development, production efficiency, infrastructure and bringing in modern technology. The meetings were with Baker Hughes chief executive Lorenzo Simonelli, Halliburton chief executive Jeff Miller and United Energy Group chairman Song Yu.
With Baker Hughes, the minister discussed drilling, well completion and artificial lift, which means pumps that raise oil from a well. They also covered faster delivery of equipment, better gas treatment and liquefaction plants, and cuts in methane emissions.
With Halliburton, the minister asked about its study of horizontal drilling and hydraulic fracturing in Egypt, and when it will finish. Fracturing means pumping fluid into rock to free trapped oil and gas.
Pilot Fields and Contract Models
The reports say Halliburton and the ministry discussed choosing candidate fields for pilot projects. They would work with the state bodies EGPC, EGAS and the Upper Egypt Petroleum Holding Company.
EGPC is the Egyptian General Petroleum Corporation, and EGAS is the Egyptian Natural Gas Holding Company. The talks also covered incentive contract models, digital tools to cut costs and training for Egyptian staff.
What United Energy Group Wants in Egypt
United Energy Group is a Hong Kong-based energy company that entered Egypt in 2019 by buying Kuwait Energy. It announced the purchase of Apex International Energy’s Egyptian assets in February 2025.
The reports say the minister invited the group to study Egypt’s new bid round and revive a 2025 memorandum of understanding. They add that Western Desert drilling plans and solar power for production sites were also discussed.
Why Egypt Is Pushing Now
In mid-September, industry press reported that Mr Badawi targeted 330 million cubic feet a day of added gas by end-2026. It said 250 million would come from the Zohr and West Mina fields and 80 million from Meleiha.
Egypt is also seeking more international explorers and technology partners. The reports gave no timing or blocks for the new bid round.
The Halliburton Study So Far
On Tuesday, 18 August, Mr Badawi met a Halliburton delegation led by its vice president for North Africa, Ahmed Helmy. Industry press said the company planned a comprehensive study across Egypt over the following months.
The reports said Halliburton had identified opportunities at Khalda Petroleum, General Petroleum Company and Badr Petroleum. They also cited a hydraulic fracturing job done in June 2026 in the Western Desert.
What It Means for US Readers
Baker Hughes and Halliburton are US oilfield-service companies, so any Egyptian drilling or fracturing programme could become work for them. No contract, value or start date was announced, so the talks give investors no earnings signal yet.
The talks follow the ministry’s push to attract international explorers and technology partners. Related Rio Times reports cover Egypt’s gas output target and the Chevron Lotus block deal.
Further background is in the report on Eni’s Egypt gas hub and the Egypt natural resources explainer. More is on the Egypt hub.
What Is Not Known
Only Egyptian press reports carry the meeting details, so they are unconfirmed, and no statement from the three companies was found. No production figures, investment sums, well counts or field names were given for the pilot projects.
It is unclear when Halliburton’s study will finish or which fields will be chosen. Whether any of the talks will lead to signed contracts is unknown.
What Comes Next
Watch for a ministry statement naming pilot fields, the results of Halliburton’s study and the terms of Egypt’s new global bid round. United Energy Group’s drilling plans for the Western Desert could also be announced.
The meetings do not mean a deal has been signed or that output will rise soon. They show which companies the ministry is courting.
Frequently Asked Questions
Who did Egypt’s oil minister meet on 3 November?
Egyptian media say Karim Badawi met the heads of Baker Hughes, Halliburton and United Energy Group at ADIPEC in Abu Dhabi. The talks were about speeding oil and gas output.
What is ADIPEC?
ADIPEC is the Abu Dhabi International Petroleum Exhibition and Conference. It runs from 2 to 5 November 2026 at the ADNEC Centre in Abu Dhabi.
What is hydraulic fracturing?
It means pumping fluid into rock to crack it and free trapped oil and gas. Halliburton is studying where it could work in Egypt.
Were any contracts signed?
No signed contracts were reported. The talks covered technology, pilot projects, contract models and a new bid round.
Why does this matter to American investors?
Baker Hughes and Halliburton are US oilfield-service companies that could win work in Egypt. No values or dates were announced, so there is no earnings signal yet.
Sources: Ministry of Petroleum and Mineral Resources, Egypt; ADIPEC 2026, Abu Dhabi; Hong Kong Exchanges, United Energy Group filings; Egyptian and industry press, 3 November 2026 (all accessed 3 November 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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