North Sinai Petroleum Company (NOSPCO), a joint venture (JV) between The Egyptian General Petroleum Corporation (EGPC) and Perenco Egypt, maintained an average gas production rate of 53 million cubic feet per day (mmcf/d) during the fiscal year (FY) 2026/25, while total spending reached $33.3 million, as the company focused on cost optimization and sustaining production levels.

The company selected three exploratory wells as part of its fourth development phase, with estimated original gas in place of around 61 billion cubic feet (bcf). The project also includes fabricating and installing three offshore platforms and laying associated production pipelines, in cooperation with national companies, including Petrojet and Petroleum Marine Services Company (PMS).

Preparations are underway to secure a drilling rig and supporting supply vessels ahead of drilling and completing the three wells during the first quarter of 2027. The fourth development phase is expected to add around 30 mmcf/d to the company’s production.

The company also recorded 2.15 million safe working hours during the fiscal year and began operating a computerized maintenance management system (CMMS) as part of efforts to establish an integrated asset integrity management system.

During a review of the company’s operations results, the CEO of EGPC, Salah Abdel Kerim, said that maintaining North Sinai Petroleum is an integral part of developing the Sinai Peninsula, given the region’s vital strategic importance.

He highlighted the company’s ability to adapt, develop, and overcome challenges, noting that continued support from EGPC had contributed to maintaining its operations. He stressed the need for further efforts to increase production, describing it as a strategic and national objective.

Meanwhile, Egyptian Natural Gas Holding Company (EGAS) Executive Managing Director, Sayed Selim, reaffirmed the company’s full support for North Sinai Petroleum to boost production, including providing the necessary drilling services. He commended the company for maintaining production and called for continued efforts to improve performance and maximize the use of available resources.

North Sinai Petroleum Chairman and Managing Director Hamdy El-Nabawy, Managing Director and General Manager Hanafy Hussein, and the company’s management team presented the results.

Raafat El-Beltagy, CEO of Perenco Egypt, said the company had drilled 12 wells over the past nine years, contributing to the continued production of gas from North Sinai Petroleum. He also expressed appreciation for the support provided by EGPC and EGAS.

NOSPCO announced, in February 2026, that it will allocate $89 million in investment for the upcoming FY, targeting the drilling of three new exploration wells.