Agiba Petroleum’s Chairman, Tharwat El Gendy, presented the company’s performance results for the period spanning July 2024 to June 2025. He confirmed that daily production peaked last May, reaching 44,196 barrels of oil equivalent per day (boe/d). The company’s immediate goal is to maintain an average daily production of 30,000 boe/d throughout the upcoming fiscal year 2025/26.

He revealed these figures during a meeting, which was attended by Minister of Petroleum and Mineral Resources Karim Badawi, held at the company’s headquarters in Nasr City. The meeting was also attended by the company’s leadership, as well as officials from IEOC Production (a subsidiary of the Italian company Eni in Egypt). They discussed the company’s plans in exploration and production (E&P) activities for oil and gas, within the framework of the Ministry’s first strategic pillar to maximize local production and reduce import costs.

El Gendy detailed Agiba’s key infrastructure enhancements, which included a new water treatment plant with a capacity of 45,000 barrels per day (bbl/d), along with upgraded fire-fighting and lightning protection systems. The company also modernized gas meters at its Meleiha plant. Looking ahead, Agiba is actively pursuing expansion projects, notably the construction of a new gas processing plant capable of handling 100 million cubic feet per day (mmcf/d), and a crude oil pipeline to Hamra Port.

For his part, Salah Abdel Kerim, Chairman of the Egyptian General Petroleum Corporation (EGPC), stressed the Corporation’s strategic goal to collaborate closely with its partners in the upcoming period. The aim is to significantly boost Agiba’s production capabilities by increasing the number of drilling rigs. Furthermore, EGPC is focused on reducing the cost per barrel and optimizing the use of available production facilities belonging to sister companies in the Western Desert region.

It is worth noting that Agiba Petroleum is a joint venture company between Italy’s Eni and EGPC in Egypt.