Salah Abdel Kerim, CEO of the Egyptian General Petroleum Corporation (EGPC), stressed the importance of developing clear, data-driven plans for the future development of petroleum concessions, particularly those with producing fields such as Gemsa, Egypt’s oldest oil field.
This came during a joint meeting for the general assemblies of Gemsa Petroleum Company (Gampetco) and Zaafarana Oil Company (ZAFCO), which are closely linked joint operating companies under the Egyptian General Petroleum Corporation (EGPC). They share oversight, report results together, and manage production in Egypt’s Gulf of Suez region.
Gampetco is a joint venture between EGPC and Cheiron.
Abdel Kerim said that maintaining production from the historic Gemsa field is a major achievement, alongside the increase in production rates achieved during the year.
Mohrous Moatamed, Chairman and Managing Director of GAMPETCO, and his team reviewed the company’s performance in the past fiscal year, which saw output rise to 8,449 barrels of oil per day (bbl/d). EGPC said the growth was driven by integrated production optimisation, disciplined operations, and innovative engineering solutions.
The Gemsa and Zaafarana fields, operated by GAMPETCO, recorded strong health, safety and environmental (HSE) performance, achieving 15 million safe working hours and cost-saving initiatives worth around $2 million.
In terms of exploration activities in Zaafarana, the company updated its 3D static geological model through Pre-Stack Depth Migration (PSDM) reprocessing covering 95 square kilometers. It also continued working with its partners to evaluate and explore promising new areas within and around the Zaafarana concession, as well as assessing four promising exploration opportunities.
In East Gemsa, the company launched a project to reprocess and integrate 3D Ocean Bottom Node (OBN) seismic data covering a total area of 450 square kilometers.
In addition, Ali Mira, President and CEO of Sahara Oil and Gas Company (SOG), praised the companies’ performance, particularly their HSE achievements, and expressed hope for stronger results in 2026/27, stressing the continued optimal exploitation of the resources it possesses, and his aspiration to achieve more discoveries and development in this field. SOG is a joint-venture partner in ZAFCO, holding 20% contractual interests in the Zaafarana field with Cherion holding the remaining 80%.
David Chi, CEO of Cheiron, praised ZAFCO’s performance, emphasising the importance of adapting advanced technologies, including nanotechnology, to support further production growth.
