Petro Shorouk revealed the injection of $96 million in additional investments during the current fiscal year (FY) 2025/26. The company’s Chairman, Tharwat El Gendy, pointed out during the company’s general assembly to approve the revised investment plan for the current fiscal year and the investment plan for the FY 2026/27.

This funding is part of an effort to intensify development activities at the Zohr field, which the company operates, and to continue well maintenance and improve operational efficiency.

Italy’s energy giant, Eni, is the technical operator and lead partner of Zohr, while Egyptian companies Petrobel (Belayim Petroleum) and Petroshorouk are national partners that manage onshore/operational activities, development drilling and production coordination alongside Eni and other international investors.

Tharwat added that the proposed investment plan for FY 2026/27 amounts to $524 million, focusing on sustained development and production operations. This includes executing vital infrastructure projects and enhancing the operational efficiency of production wells.

Key initiatives involve expanding the capacity of the Zohr onshore plant and launching an offshore treatment project using a Floating Power/Processing Unit (FPU). These projects aim to upgrade the processing system for produced gas, support production sustainability, and boost overall operational performance.

The meeting was attended by Karim Badawi, Minister of Petroleum and Mineral Resources, and officials from Petro Shorouk and Petrobel, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).

During the meeting, Badawi directed the development of a strategic vision to identify promising, untapped areas within the Petro Shorouk operational zones and Belayim Petroleum Company’s (Petrobel) operational areas.

Furthermore, he commended the Zohr Field production enhancement project, which aims to sustain production levels and maximize the field’s resource utilization.