Ganoub El Wadi Petroleum Holding Company (Ganope) Chairman Ashraf Bahaa announced a strategic partnership with the Egypt Upstream Gateway (EUG) digital platform to present 15 investment opportunities.

Currently, 11 agreements have been finalized, underscoring the company’s commitment to attracting new investors and stimulating existing partnerships.

This came during a General Assembly meeting attended by Minister of Petroleum and Mineral Resources Karim Badawi in which Bahaa outlined Ganope’s fiscal year 2025/26 plan.

The company aims to drill five exploratory wells at an estimated cost of $20 million, reflecting its dedication to expanding oil exploration activities.

Ganope targets producing approximately 14 million barrels of crude oil in the coming fiscal year, with an average daily output of about 39,100 barrels. This ambitious goal aligns with the Ministry of Petroleum and Mineral Resources’ directives to enhance investment opportunities and boost production.

Additionally, Ganope continues to oversee the natural gas delivery project in Upper Egypt, aiming to connect 185,000 new domestic customers. This initiative brings the total number of customers served since 2009 to 2.3 million, highlighting the company’s role in providing essential services to the region.

Minister Badawi emphasized the South Valley’s potential for crude oil exploration and production, stressing the need for a comprehensive seismic survey plan. This initiative will require substantial financial resources to expedite data collection and processing, ultimately attracting new investors to maximize Egypt’s oil reserves and production.

The meeting took place to approve the estimated budget for FY 2025/26.