South Valley Egyptian Petroleum Holding Company (Ganope) targets revenues exceeding EGP 4 billion and net profits surpassing EGP 1 billion in the fiscal year (FY) 2026/27, according to the company’s Chairman, Ashraf Bahaa.

Bahaa said the company continues to implement the Ministry’s strategy aimed at creating promising investment opportunities, encouraging current partners, and attracting new investors. He added that coordination with the Egypt Upstream Gateway (EUG) resulted in offering 16 investment opportunities, with eight exploration and production agreements currently in force covering an area of about 37,000 square kilometers (km²). Plans are also in place to drill five exploratory wells with investments estimated at $33 million, he added.

According to Bahaa, the company is driving investment attraction efforts, including the Red Sea bid round launched in November 2025. The round, set to close in May 2026, comprises four blocks totalling 23,450 km², promoted via global conferences, technical workshops, and geological site visits.

Bahaa further noted that the ongoing 2D seismic survey project in virgin areas west of the Nile and in the southern Western Desert t is expected to support adding these areas to Egypt’s petroleum investment map for the first time.

He added that data acquisition for Area B west of Assiut has been fully completed, and processing has begun, with initial indicators expected in March. Preparations are also underway to conduct seismic surveys in the Dakhla Oasis area.

During the meeting, Badawi commended the company’s operational activities, especially completing seismic survey work in Area B west of Assiut, noting that preliminary results are being prepared for presentation to investors at the Egypt Energy Show (EGYPES) 2026.

Ganope is a state-affiliated petroleum company focused on exploration and production, managing concession areas in the Western Desert, West Nile, and Red Sea regions, and promoting investment opportunities to local and international partners.