PetroShahd Petroleum Company recorded an average production rate of 7,730 barrels per day (bbl/d) of oil and condensates during the 2025/2026 fiscal year (FY), according to the company’s results presented during its General Assembly meeting.

During the meeting, Salah Abdel Kerim, CEO of the Egyptian General Petroleum Corporation (EGPC), directed PetroShahd to develop a clear exploration plan with a defined timeline and intensified drilling activities.

Abdel Kerim also stressed the need to maintain occupational health and safety measures and increase training hours to improve performance and reduce operational risks.

He further emphasized the importance of expanding renewable energy projects to reduce diesel consumption and lower emissions, reaffirming EGPC’s support for the company.

Ahmed Abdel Wahab, Chairman and Managing Director of PetroShahd, and his team presented the company’s results for FY 2025/26. The company drilled three development wells and recorded 4.8 million safe working hours without injuries or accidents during the fiscal year.

PetroShahd also received the Operational Excellence Award during the 11th Egypt Oil & Gas Convention (EOGC 2025) in recognition of its project to develop a unified risk visualization model using Power BI analytics.

Petroshahd is a joint venture between the Egyptian General Petroleum Corporation (EGPC), Chile’s ENAP Sipetrol, and Kuwait Energy Egypt (KEE). United Energy Egypt (UEE) is the affiliated to KEE in Egypt.

The company proposed a plan in January 2025 to increase the daily production rate, which stood at 10,500 bbl/d, and to drill 4 development wells for FY 2025/26.