Petrosalam achieved average daily crude oil production of 2,547 barrels per day (bbl/d) and recorded 1.6 million safe working hours, according to Chairman Abdel Hamid Hussein Gewaily.
This came during the general assembly meetings of the company, chaired by Egyptian General Petroleum Corporation (EGPC) CEO Salah Abdel Kerim, to approve its operational results during FY 2025/26.
Suez Oil Company (SUCO) increased its proven reserves by 3.9 million barrels (mmbbl) of oil and improved drilling efficiency by cutting drilling time from 80 days to 49 days during fiscal year (FY) 2025/26. The company also reduced chemical costs by 50% without affecting production, according to a statement by the Egyptian General Petroleum Corporation (EGPC).
Karim Badawi, Minister of Petroleum and Mineral Resources; and Hanan Magdy, New Valley Governor, witnessed the signing of a cooperation protocol to establish the Misr Phosphate International School of Applied Technology in Kharga City.
The school will be specializing in mining and phosphate ores, targeting the graduation of 100 skilled technicians annually to support the expansion of the mining and mineral-processing industries.
The Cabinet has approved the establishment of a special free zone for Fujairah Alamein Oil and Gas Company in New Alamein City, Matrouh Governorate, under Cabinet Decree No. 65 of 2026. The new free zone, covers about 737,915 square meters, will be dedicated to the storage and trading of petroleum products and crude oil.
Korra Energi, a leading Egyptian provider of energy efficiency solutions and contracting services, secured EGP 5.1 billion in new contracts during the first half (H1) of 2026—a massive leap from EGP 1.1 billion in the corresponding period of 2025, noted a company disclosure to the Egyptian stock market. More significantly, Foreign currency-denominated contracts accounted for 45% of new contract value in H1 2026, bolstering foreign exchange reserves and easing international project obligations.
Karim Badawi, Minister of Petroleum and Mineral Resources, has discussed with Halliburton the preparation of technical and economic studies on opportunities to increase oil and gas production across the country, with a focus on horizontal drilling and hydraulic fracturing.
Ahmed Helmy, Halliburton ’s Vice President for North Africa said Halliburton has begun preparing specialized studies to identify opportunities in unconventional areas and reservoirs. The company plans to conduct a comprehensive technical and economic study across Egypt over the coming months to determine the most suitable opportunities for horizontal drilling and hydraulic fracturing, taking into account the characteristics and production potential of individual reservoirs.
Egypt has laid the foundation stone for China's Sungrow $50 million plant to assemble energy storage systems, the first in the Middle East and Africa.
Located in the Suez Canal Economic Zone, the plant spans an area of 50,000 square meters (m²) and is expected to have an annual production capacity of 10 gigawatt-hour (GWh) at full operation, with production scheduled to commence in April 2027. It also is expected to create more than 100 jobs, with a focus on employing local workers in manufacturing, production, and technical roles.
Offshore Shukheir oil Company (OSOCO) has raised production to 1.7 million barrels of oil equivalent (mmboe) during the last fiscal year that is equivalent to an average of 7,100 boe per day, successfully offset the natural decline of mature wells, according to Chairman Mohamed Ali Abdullah.
Abdullah, who is also the Chairman of El Mansoura Petroleum, said while reviewing the company's performance during the general assembly meeting which chaired by Salah Abdel Karim, CEO of the Egyptian General Petroleum Corporation (EGPC) to approve OSOCO's results for fiscal year (FY) 2025/2026.
Mohamed Awad, PetroSilah Petroleum Company Chairman and Managing Director, reviewed the company’s performance highlights during the past fiscal year (FY) 2025/26, including achieving 8.5 million safe working hours, fulfilment of its crude oil production plan, completing the drilling of one development well, and commencing drilling operations on a second well.
This came during Petrosilah’s general assembly to approve FY 2025/26 results, where the company revealed plans to drill six wells during the current fiscal year, according to a statement by the Egyptian General Petroleum Corporation (EGPC).
Magawish Petroleum (Magapetco) plans to increase its reserves to 3.2 million barrels while maintaining strong safety performance, as part of a development strategy with partner Trident Petroleum. The plan includes infrastructure optimization and will be reviewed in September with EGPC and Ganope officials.
