PetroGulf Company held its general assembly under the chairmanship of Chairman of the Egyptian General Petroleum Corporation (EGPC) Salah Abdel Kerim, and with the participation of Ganoub El Wadi Petroleum Holding Company’s (Ganope) Chairman Ashraf Bahaa.

During the meeting, Isaac Saad, PetroGulf Chairman, reviewed some of the achievements, such as moving forward with the project to use solar energy alongside gas generators in order to reduce diesel consumption rates, as well as using flare gases to generate energy and reduce carbon emissions.

The production performance of PetroGulf Company was also presented, which currently amounts to 22,500 barrels of crude oil per day (bbl/d) from its fields in the Gulf of Suez, after the boom achieved in recent years.

Additionally, the production plan for the 2025/26 fiscal year was outlined, targeting an output of 23,000 bbl/d of crude oil with an allocated budget of $77 million.

Abdel Kerim highlighted the importance of continuing and supporting the ongoing efforts to increase exploration and development activities in the company, which is the best way to increase production rates, appreciating the leap in production rates to jump from about 4,000 to 22,5000 bbl/d of crude oil by drilling 13 wells in less than four years, as well as working on developing production facilities.