The Egyptian General Petroleum Corporation (EGPC) has approved amendments to the current fiscal year’s budget as well as the plan for the 2026/27  budget for Alamein Petroleum Company. EGPC’s CEO, Salah Abdel Kerim, attributed the modifications to the fact that the company’s concession areas require continuous innovation and integrated technical solutions, given their complex geological nature.

He reaffirmed EGPC’s full support for efforts to increase output and reduce per-barrel production costs, specifically to counter the natural decline of mature fields.

Abdel Kerim highlighted that investment in exploration continues to yield immediate results, citing the Z3 well as a recent success. The well was recently linked to production facilities and is currently contributing approximately 650 barrels per day (bbl/d) to the company’s total output.

Alamein Petroleum Chairman Hafez El-Shamy presented the modified budget for the current fiscal year, noting that the company allocated   $26 million in planned investments in the FY 2026/27 budget to realize a production of 2000 barrels per day (bbl/d) of raw oil.

The meeting was attended by EGPC vice presidents and the heads of Tharwa Petroleum and General Petroleum Company (GPC), reflecting a unified strategy to enhance the efficiency of Egypt’s brownfields through modern technology and environmental compliance.

Ehab Ragaee, First Undersecretary for Production at the Ministry of Petroleum and Mineral Resources (MoPMR), participated via video conference, underscoring the importance of sustainable infrastructure. He called for connecting field operations to the National Electricity Grid to reduce reliance on transported fuels, thereby minimising road hazards and operational risks.

Alamein Petroleum Company operates the Horus and Lotus concessions through a partnership between EGPC and national entities such as Tharwa Petroleum and the General Petroleum Company (GPC).