Rashpetco to Double Natural Gas Production by FY 2029/30

• Thursday, 8th January 2026
• by Samar Samir

Rashid Petroleum Company (Rashpetco) revealed a five-year strategic plan (2025–2030), aiming to double its current natural gas production by fiscal year (FY) 2029/30.
A primary highlight of the strategy is the West Mena region, located offshore the Mediterranean, where drilling operations for the first well are scheduled to commence in February. The project targets an estimated production of 160 million standard cubic feet per day (mmscf/d) of natural gas and 1,900 barrels of condensate per day by the fourth quarter (Q4) of 2026.

Egypt, Syria Ink MoUs for Gas, Petroelum Cooperation

• Tuesday, 6th January 2026
• by Doaa Ashraf

The Ministry of Petroleum and Mineral Resources (MoPMR) has signed two Memoranda of Understanding (MoUs) with the Syrian Ministry of Energy to supply Syria with natural gas, petroleum products, and technical expertise. The MoUs were signed on the sidelines of Minister of Petroleum and Mineral Resources Karim Badawi’s meeting with a high-level Syrian delegation, headed by Deputy Minister of Energy for Oil Affairs Ghiath Diab, according to a statement by MoPMR.

Gulf of Suez Operators Hold Workshop to Boost Drilling Efficiency

• Tuesday, 6th January 2026
• by Doaa Ashraf

Operating companies at the Gulf of Suez regions have gathered in a workshop to discuss strategies to improve performance and reduce costs of well drilling operations at the headquarters of the Gulf of Suez Petroleum Company (GUPCO). This came in line with the Ministry of Petroleum and Mineral Resources’ work strategy and the directives of Karim Badawi, Minister of Petroleum and Mineral Resources, during his inspection visit to Belayim offshore 133 well in the Gulf of Suez, where he stressed the importance of enhancing drilling efficiency and lowering well costs.

Dana Gas Receives $50 Million Payment from Egypt, Reducing Arrears

• Monday, 5th January 2026
• by Samar Samir

Dana Gas, the Middle East’s largest private sector natural gas company, has received a $50 million payment from the Egyptian government, reducing overdue receivables, according to a press release issued by the company on January 5, 2026. This payment supports the company’s ongoing drilling program under the consolidation agreement that was signed with Egypt in December 2024, which optimized fiscal terms and designated additional acreage for exploration to incentivize new upstream investment in the Nile Delta and Mediterranean regions.

Egypt, Qatar Sign MoU for LNG Supply

• Sunday, 4th January 2026
• by Doaa Ashraf

Karim Badawi, Minister of Petroleum and Mineral Resources, signed a Memorandum of Understanding (MoU) on January 4 with Saad bin Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and CEO of QatarEnergy, to secure a 24 cargos supply of liquefied natural gas (LNG) to Egypt.

Agiba New Wells Add 1,650 bbl/d to Egypt’s Crude Oil Output

• Sunday, 4th January 2026
• by Doaa Ashraf

Agiba Petroleum Company, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Italy’s Eni, has drilled two new wells in its Western Desert concession, marking the first completions of the 2026 drilling campaign.

Initial testing of the two new wells showed an estimated combined production of 1,650 barrels of crude oil per day (bbl/d) and approximately 19 million standard cubic feet per day (mmscf/d) of natural gas from the Khatatba and Masajid geological formations.

ASP Secures $140 Mn Financing for Silicon Metal Complex Following Golden License Grant

• Wednesday, 31st December 2025
• by Doaa Ashraf

Alamein for Silicon Products Company (ASP) has signed a long-term joint financing agreement worth $140 million to launch the first phase of the Silicon Metal Production and Derivatives Complex. Established under the Egyptian Petrochemicals Holding Company (ECHEM), the project is a centerpiece of Egypt’s strategy to localize high-value industries. The industrial complex, which was recently granted the Golden License by the Egyptian Cabinet to expedite construction and operations, represents a total initial investment of $200 million for its first phase.

Badawi Updates PM on Gas Projects, Sector Developments

• Wednesday, 31st December 2025
• by Doaa Ashraf

The Ministry of Petroleum and Mineral Resources (MoPMR) has completed 90% of the planned works to connect natural gas to households under the presidential Decent Life initiative. During a meeting with Prime Minister Mostafa Madbouly, Minister of Petroleum and Mineral Resources Karim Badawi confirmed that efforts are being accelerated to finalize the rural infrastructure projects in alignment with the national development timetable.

Ministries of Petroleum and Public Business Sector Partner to Advance Mining Projects

• Wednesday, 31st December 2025
• by Fatma Ahmed

Minister of Petroleum and Mineral Resources, Karim Badawi, and Minister of Public Business Sector, Mohamed Sheimy, held a high-level meeting at the petroleum ministry’s headquarters in the New Administrative Capital to finalize a framework for integrated industrial development. The meeting focused on maximizing the economic returns of Egypt’s mineral wealth and accelerating energy infrastructure for the national textile modernization project, according to a statement by the Ministry of Public Business Sector.

Sidpec to Inject EGP 5.6 Bn in Strategic 2026 Investment Budget

• Tuesday, 30th December 2025
• by Samar Samir

Sidi Kerir Petrochemicals Company (Sidpec) approves the allocation of EGP 5.68 billion for new investments and affiliated company partnerships. This financial roadmap was unveiled in a disclosure to the Egyptian Exchange (EGX) on December 29, 2025, following a Board of Directors meeting held the same day to finalize the company's estimated capital budget for the 2026 fiscal year.