Egypt plans to repay up to $350M in arrears to foreign oil firms in Q1 2026

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Egypt plans to repay between $250 million and $350 million in outstanding dues to foreign oil companies during the first quarter of 2026, alongside a broader structural plan to settle an additional $750 million, Petroleum and Mineral Resources Minister Karim Badawi said.

Speaking at a conference organized by the American Chamber of Commerce in Cairo, Badawi said Egypt has reduced arrears owed to foreign partners by 60%–70%, while settling all monthly dues through the end of December.

The minister added that Egypt is preparing to implement $4.5 billion in new investments across six projects over the next four years, in cooperation with the private sector.

Badawi also said the ministry plans to launch an integrated digital platform for the mining sector by the end of the first quarter or the beginning of the second quarter of the current year at the latest.

The platform will cover all stages of engagement with mining opportunities, starting from expressions of interest and technical evaluation to the electronic issuance of licenses, as part of efforts to simplify procedures and improve the sector’s investment attractiveness, he said.

The petroleum ministry aims to increase the mining sector’s contribution to GDP to 5%–6%, up from around 1% currently, while working to transform the Egyptian Mineral Resources Authority into an economic entity, according to Badawi.

Egypt holds promising investment opportunities in minerals including gold, phosphate, quartz, silica, potash, kaolin, and sulfur, the minister said, citing previous statements.

Egypt is also preparing to launch its first comprehensive aerial mineral survey in 40 years during the first quarter of the year, aiming to update geological data and build a large database to accelerate the attraction of regional and global mining investments.