Al Amal Petroleum Company (Amapetco), a joint venture (JV) between Egyptian General Petroleum Corporation (EGPC) and Cheiron.  produced  8,000 barrels of oil equivalent per day (boe/d) and recorded 11.8 million safe working hours, while investing $13.4 million during the fiscal year (FY) 2025/2026, according to the company’s Chairman Mohamed El-Shabassy.

El-Shabassy was addressing a joint meeting of the general assemblies of  Amapetco and West El-Burullus Petroleum Company (PetroWEB), a JV between the Egyptian Natural Gas Holding Company (EGAS) and Cheiron. He highlighted a number of the company’s ongoing plans, including efforts to reduce per-barrel costs and advance new and renewable energy projects, alongside studies of several locations for development and exploration activities.

During the meeting, Salah Abdel Kerim, CEO of EGPC, stressed the importance of developing a clear vision for a more sustainable partnership and achieving stronger results. He also called for conducting a new seismic survey of the Gulf of Suez area where both Amapetco and PetroWeb operate.

EGAS Chairman Sayed Selim emphasized the importance of thoroughly evaluating the area’s reserves and using artificial intelligence (AI) applications to analyze seismic data and support exploration efforts.

Amapetco operates the Amal oil field in the Gulf of Suez. It is involved in oil production, field development, and exploration activities in the concession area. Meanwhile, PetroWeb develops and produces gas from the West El‑Burullus (WEB) field in the Mediterranean.