Assiut Oil Refining Company (ASORC) targets refining 4.2 million tons (mmt) of crude oil during fiscal year (FY) 2026/27, ASORC Chairman Issa Alaq stated during the general assembly meeting attended by Karim Badawi, Minister of Petroleum and Mineral Resources, to approve the FY 2026/27 investment plan.
Cooperation Petroleum Company (CPC) investment plan details a total of EGP 1.2 billion investments in fiscal year (FY) 2026/27, CPC’ Chairman, Mostafa El Sayed, noted. This came during the general assembly meeting attended by Karim Badawi, Minister of Petroleum and Mineral Resources, to approve the FY 2026/27 investment plan.
UK-listed Capricorn Energy PLC reported 2025 production in Egypt of 20,024 barrels of oil equivalent per day (boe/d), exceeding the midpoint of its 17,000–21,000 boe/d guidance. By year's end, the company's recorded rise in production rates to 21,003 boe/d, supported by new development wells drilled since July 2025 and the expanded waterflood program at the Badr El Din (BED) field, according to the company’s operational and trading update released on February 24.
Fitch Solutions expects Egypt’s annual natural gas production to increase by 8% Year-on-Year (YoY) in 2026, reaching 46.6 billion cubic meters (bcm) compared to 2025. This growth follows a production decline during the previous year, as production was 43.1 bcm, according to a Cabinet statement.
The Gulf of Suez Petroleum Company’s (GUPCO) aims to increase its production from 65,000 barrels of oil per day (bbl/d) currently to 75,000 bbl/d in fiscal year (FY) 2026/27, Abdul Wahab El-Maghawry, the company's Chairman, announced. This will be achieved through drilling exploratory and developmental wells, as well as implementing well repair programs to maximize the utilization of existing fields, he explained.
This came during the General Assembly held to approve GUPCO’s investment plan for FY 2026/27. The meeting was attended by Karim Badawi, Minister of Petroleum and Mineral Resources, representatives from the UAE’s Dragon Oil and officials from the International Egyptian Oil Company (IEOC Production). Dragon Oil is the co-owner of GUPCO together with the Egyptian General Petroleum Corporation (EGPC), while IEOC, a subsidiary of Italy’s Eni, is a partner in GUPCO’s Tor Sinai concession area.
The General Petroleum Company (GPC) targets drilling 66 wells, including 8 exploratory ones, with total investments of EGP 8 billion during the coming fiscal year, Chairman Mohamed Abdel Mageed told the company's General Assembly convened to approve the FY 2026/27 investment plan.
Chairing the meeting, Karim Badawi, Minister of Petroleum and Mineral Resources, emphasized that exploration activity represents a key pillar in implementing the company’s five-year plan to maximize production rates. He underlined the importance of expanding the use of modern technologies and praised GPC’s workforce, describing GPC as a successful model in applying technological solutions in data analysis and identifying promising investment opportunities, especially in mature fields.
Petroleum Marine Services (PMS) generated total revenues of $261.5 million in 2025. The revenues included $129 million from development projects and $132.6 million from maintenance, inspection, drilling, and other marine services, CEO Amr Badawy said during the general assembly meeting to approve the company’s 2025 financial results.
Badawy explained that PMS’s strategy is focused on diversifying and expanding its activities through cable-laying and deepwater installation works, in addition to port dredging. The company is also focused on broadening its client base, increasing business volumes, and strengthening partnerships with existing customers.
Minister of Petroleum and Mineral Resources, Karim Badawi, held a meeting with representatives from international technology providers and service companies operating in Egypt, including SLB, Baker Hughes, Weatherford, National Energy Services Reunited Corporation (NESR), and Expro. The meeting discussed the executive steps for establishing an integrated mechanism to develop drilling technology and field Development.
Minister of Petroleum and Mineral Resources, Karim Badawi, held a meeting with the Board of Directors of the Mineral Resources and Mining Industries Authority (MRMIA), chaired by Yasser Ramadan, to discuss the launch of the nationwide airborne geophysical survey project.
The meeting also focused on aligning the Authority’s operational roadmaps with its new status as an economic entity. Officials briefed Badawi on the developments in negotiations for new gold and mineral investments, and in the implementation of recently issued mining and exploitation licenses.
The total production of the Sukari gold mine in 2025 came at 500,000 ounces, compared to 481,000 ounces in 2024, driven by higher ore throughput and improved equipment availability. The total cost of production is $783 per ounce, according to a press release by AngloGold Ashanti.
AngloGold Ashanti acquired the Sukari gold mine from Centamin on November 22, 2024.
In the fourth quarter (Q4) 2025, Sukari produced 119,000 ounces, down 5% from Q4 2024. This decline was partly caused by the processing of lower-grade materials.
