The Board of Directors of the Egyptian General Petroleum Corporation (EGPC) held a meeting to review measures for accelerating production and securing domestic energy supplies. During the meeting, conducted via Video conference, both EGPC CEO Salah Abdel Kerim and the Deputy CEO for Financial and Economic Affairs, Amal Tantawi, presented initiatives aimed at attracting new investments to the Gulf of Suez, the Mediterranean, and the Western Desert to increase petroleum and natural gas production.

Chaired by Karim Badawi, Minister of Petroleum and Mineral Resources,the meeting was held with the participation of Manal Awad, Minister of Local Development; Mohamed Farid, Minister of Investment; Khaled Hashem, Minister of Industry; and Yasser Sobhi, Deputy Minister of Finance for Fiscal Policies.

  The EGPC continues to play a pivotal role in navigating complex global challenges, ensuring a sustainable supply of petroleum products to the domestic market while fulfilling all financial obligations to strengthen foreign partners trust, according to Badawi.

He underscored the shift toward implementing modern contractual models that support the use of horizontal drilling and hydraulic fracturing technologies, contributing to a qualitative leap in crude oil production within the framework of the petroleum sector’s five-year plan.Furthermore, the Minister pointed out the ongoing efforts to create an investment-attractive environment, contributing to the acquisition of further investments to increase production from existing fields and achieve new discoveries that bolster production capacities.

The board also reviewed the developments in the operations of state-owned entities, specifically the General Petroleum Company (GPC) and Badr Petroleum Company, a subsidiary of The Western Desert Operating Petroleum Company (WEPCO).

Established in 1956, EGPC serves as the national entity responsible for the management of Egypt’s upstream and downstream petroleum activities, working under the umbrella of the MoPMR to ensure national energy security.