They discussed deploying SLB’s ocean bottom node seismic surveys offshore, leveraging artificial intelligence for geological data interpretation, and enhancing integrated digital data analysis. Implementation of these technologies is aimed at increasing field production efficiency and shortening exploration cycles.
The conversation included plans for technical training of Egyptian professionals and transfer of know-how, especially in new prospecting areas within the Mediterranean basin. Badawy emphasised Egypt’s interest in forging partnerships that combine cutting-edge technology, environmental safety and operational excellence. SLB reiterated its commitment to expanding its footprint in Egypt and supporting local capacity building.
This move aligns with Egypt’s broader strategy to cut import costs in its petroleum sector. The sector has reduced its import bill by about US$3.5 billion over the past fiscal year, driven by increased domestic production, expanded gas distribution and infrastructure upgrades. New exploration blocks have been awarded, and discoveries in the Mediterranean, Western Desert and Gulf of Suez are shaping up as major contributors.
Among the initiatives under discussion are seven development projects and 23 wells that have come online with roughly US$1.7 billion in investment, plus over 29 gas discoveries and connecting over half a million more homes to the natural gas network. Transport fuel conversion to natural gas is also being scaled up, with tens of thousands of vehicles converted and new refuelling infrastructure established.
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