The Egyptian General Petroleum Corporation (EGPC) held a meeting with senior executives from 32 production companies in implementation of the Ministry of Petroleum’s strategy to upgrade an integrated five-year plan aimed at doubling production rates and reserves. The plan includes expanding exploration and development activities, enhancing operational efficiency, and reducing losses through advanced drilling and production technologies and digital transformation. It also includes ensuring there are measurable performance indicators and a clear timeline to achieve gradual increases in production, the ministry said.
In the meeting, Salah Abdel Kerim, Chairman of EGPC, highlighted the global challenges facing energy markets and their direct impact on the national economy. He also emphasized the urgent need to increase domestic crude oil and derivatives output. Abdel Kerim further stressed that boosting production is a cornerstone for maintaining market stability and supporting sustainable development under Egypt’s Vision 2030, noting that innovation, capacity-building, and integration between research institutions and operational entities are key to achieving the targeted outcomes.
For his part, Ashraf Bahaa El-Din, Chairman of the Ganoub El Wadi Petroleum Holding Company (Ganope), said that petroleum fields remain rich with untapped potential, adding that scientific applications and technological advances will play a vital role in maximizing output.
The meeting also reviewed current challenges and reaffirmed the ministry’s goal of investment promotion, optimal resource utilization, and the adoption of innovative solutions and advanced technologies. Participants agreed to convey the meeting’s discussions to their respective teams and to submit detailed company-level plans by the end of October.
Earlier this week, Karim Badawi, the Minister of Petroleum and Mineral Resources, revealed plans to drill 480 new oil and gas exploration wells with total investments exceeding $5.7 billion through 2030. In 2026 alone, the ministry plans to drill about 101 wells distributed across Egypt’s main oil and gas regions.
