During the annual ministerial meeting of the Organization of Arab Petroleum Exporting Countries (OAPEC), Egypt presented five initiatives to strengthen energy security in the Arab world. These include developing a roadmap for interregional energy connectivity among countries through 2030, establishing a coordination mechanism for emergency purchases of crude oil and gas, expanding cross-border storage facilities, launching a digital investment platform, and creating a unified Arab program for technical exchange and capacity building.

Source: Al Arabiya

Egypt aims to implement an ambitious program to increase the volume of discoveries and production, which includes drilling around 480 new wells over the next five years. The OPEC Council of Ministers also highly praised the efforts of member states in implementing the Green Middle East Initiative and advancing the concept of a circular carbon economy.