Cheiron announced the appointment of David Chi as Chief Executive Officer (CEO), effective April 19, 2026. Chi brings over 25 years of global experience in the oil and gas industry with a strong track record of leadership across complex, large-scale operations. Most recently, he served as Region Vice President, Vice President of Commercial, Government & Industries, and Vice President of Assets of Apache Corporation.
The Egyptian Cabinet approved a draft concession agreement for the exploration and exploitation of natural gas and crude oil in the Lotus offshore area in the Mediterranean Sea between the Egyptian government, the Egyptian Natural Gas Holding Company (EGAS), and Chevron Egypt Holdings Ltd. The agreement, involving the US-based Chevron, is part of broader legislative approval for two concessions that require a minimum investment of $85 million.
The Petroleum Trading Services Company (Petrotrade), a subsidiary of the Egyptian Natural Gas Holding Company (EGAS), recorded a 16% growth in natural gas consumption bill collections from major industrial consumers during fiscal year (FY) 2025 compared to the previous year. Wassem Wahdan, the company’s Chairman, reported the figures during the General Assembly convened to review 2025 fiscal results, noting that the company also finalized settlements for the electricity sector.
Town Gas recorded total revenues of approximately EGP 4.8 billion during fiscal year (FY) 2025, a 20% increase compared to EGP 4 billion the previous year. Mohamed Fathy, the company’s Chairman, reported these figures during the General Assembly convened to approve the financial results. The company yielded a net profit exceeding EGP 340 million, driven by an expansion in natural gas connection projects and the successful launch of its international operations in Romania.
The Egyptian International Gas Technology Company (Gastec) recorded natural gas sales of approximately 664 million cubic meters (mmcm) during fiscal year (FY) 2025, achieving the highest market share in Egypt at 45%. Mohamed Elniel, the company’s Chairman, reported the figures during the General Assembly convened to approve the company’s results for the fiscal year.
President Abdel Fattah El-Sisi has ratified two laws authorizing new petroleum exploration and production agreements in North Sinai offshore and the Gulf of Suez.
The first agreement, under Law No. 81 of 2025, authorizes the Minister of Petroleum and Mineral Resources, Karim Badawi, to contract with the Egyptian General Petroleum Corporation (EGPC), Perenco North Sinai Petroleum Inc., Perenco North Sinai Oil Limited, Perenco North Sinai Gas Limited, and Perenco Resources Egypt Limited to explore, develop, and produce oil in the North Sinai offshore development area.
Separately, Law No. 163 of 2025 empowers the Ministry of Petroleum and Mineral Resources (MoPMR) to contract with EGPC and Dragon Oil for petroleum exploration and exploitation in the East El-Hamd area of the Gulf of Suez.
Tharwa Petroleum Company, a state-owned company, recorded strong operational and production results in 2025, achieving a 15% increase in output compared to the previous year following the successful drilling of four new wells in the Western Desert, Chairman and Managing Director Saeed Abdel Moneim reported. The wells were initially drilled to offset natural production decline, but results exceeded expectations and bolstered overall growth.
These results were reviewed during the general assembly meeting attended by Minister of Petroleum and Mineral Resources Karim Badawi, along with senior officials from the ministry, the Egyptian General Petroleum Corporation (EGPC), EGAS, South Valley Egyptian Petroleum Holding Company (Ganope), and representatives of the Central Auditing Organization.
Petroleum Marine Services Company (PMS), one of Egypt’s petroleum sector companies, announced that it has received an assignment order to execute marine works for Phase 12 of the West Delta Deep Marine (WDDM) natural gas field development project, on behalf of Burullus Gas Company. PMS will act as the general contractor under the Engineering, Procurement, Installation, and Construction (EPIC) system, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
This assignment extends PMS’s record of achievements during Phases 10 and 11 of the WDDM project, where the company successfully laid two offshore power cables at depths reaching 660 meters and executed well tie-in operations at depths of up to 880 meters.
The Egyptian Projects Operation and Maintenance (EPROM), a subsidiary of the Egyptian General Petroleum Corporation (EGPC), reported a net profit of EGP 1.586 billion in 2025, marking a 44% increase from 2024, Chairman Hossam Asad announced during the general assembly meeting convened to review the company’s 2025 fiscal year (FY) results.
Tag Oil, Canadian based international oil and gas exploration company, is preparing to drill a T-200 vertical well in the Badr Oil Field (BED-1) concession located in the Western Desert in 2026, according to its first quarter (Q1) of 2026 operational update release.
Simultaneously, at the Southeast Ras Qattara (SERQ) concession, TAG Oil is launching a technical evaluation phase, including a Diagnostic Fracture Injectivity Test (DFIT) scheduled for Q2, to assess the commercial viability of unconventional reservoirs.
