Salah Abdel Kerim, CEO of the Egyptian General Petroleum Corporation (EGPC), visited Petrobakr Petroleum Company, a joint venture between EGPC and Vaalco Energy, to follow up on the implementation of work plans and to motivate employees and encourage them to exert efforts to meet the Ministry of Petroleum’s goals to increase Egypt’s oil and natural gas production.
The visit, attended by leaders from EGPC, Vaalco Energy, and senior executives at Petrobakr, began with a presentation on occupational safety, environmental protection, exploration, operations, and ongoing projects.
Khaled Mounir, Chairman of Petrobakr, gave a presentation that shed light on the company’s performance for the current fiscal year and outlined plans for FY2026/2027 within its five‑year scheme to raise production levels.
The presentation highlighted achievements in energy conservation, including the operation of two wells powered by solar energy, with preparations underway to add three more in the coming period. It also outlined efforts to reduce drilling costs and to assess current and anticipated oil reserves.
Iman Hill, Country Manager and Managing Director, Vaalco Energy, commented: “Our focus remains on enhancing HSE performance, driving production growth, reducing unit costs, and implementing energy efficiency initiatives.”
She expressed her heartfelt gratitude to the EGPC team for engaging in insightful discussions. “Special thanks to the dedicated teams at Vaalco Energy and Petrobakr Petroleum Company for their continuous commitment and outstanding contributions,” she added.
Mounir’s presentation also underscored the new electrical interconnection project with the Ministry of Electricity. The project will allow direct use of grid electricity in the fields, reducing diesel consumption and carbon emissions while achieving estimated annual savings of $3.6 million.
Following the presentation, Abdel Kerim conducted a video call with field workers, extending appreciation for their ongoing efforts and emphasizing the crucial role they play in increasing local oil and gas production. He stressed the importance of strict adherence to safety and occupational health measures to ensure workers’ safety.
Abdel Kerim also praised the company’s performance and instructed management to continue increasing production annually by 25%, maintain cost‑control and rationalization measures, ensure continuous application of safety standards at work sites, accelerate the timeline for the electrical interconnection project, adopt advanced technologies that enhance production efficiency, and accelerate the operational plan for the South Ghazalat fields in the Western Desert.
