Harbour Energy, through its joint venture (JV) company DISOUCO, has announced the successful appraisal of the EZZ-2 well in the Disouq Concession, marking a significant expansion of its near-field exploration and appraisal activities in Egypt. The announcement follows the rapid development of the EZZ-1 discovery, which was brought on-stream in January 2026—only three months after its initial discovery in October 2025.
Mohamed El-Gawsaky, CEO of the General Authority for Investment and Free Zones (GAFI) met with a delegation from DrasChem Specialized Chemicals company to discuss steps for establishing a sodium cyanide production plant at the Sidi Kerir Petrochemicals Complex in Alexandria.
In its first phase, the plant is to produce and export 50,000 tons of sodium cyanide, a substance used in gold extraction, with an investment cost of $200 million. Once operational, the first-phase output will be equivalent to five times the current domestic demand, meeting an important part of the needs of gold mines in the African continent.
DrashChem is an Egyptian Company established as a private free zone project after securing the cabinet approval. The company has begun detailed engineering design, project structuring, and raw material supply contracting. First-phase production is targeted to start in 2028.
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, met with senior leaders from US oil major Chevron in Washington to accelerate the technical and commercial agreements required to link Cyprus’ Aphrodite gas field to Egyptian infrastructure. The meeting established a roadmap for further negotiations, with all project parties set to convene in Cairo by the end of March 2026, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
During the visit, Badawi further held a meeting with US Secretary of Energy Chris Wright, in the presence of the Egyptian Ambassador to Washington, Motaz Zahran, and delegations from both countries.
Karim Badawi, Minister of Petroleum and Mineral Resources, honored a joint team from EGPC, Cairo Oil Refining Company, and Khalda Petroleum for developing and localizing the production of a demulsifier used in oil wells to help separate water from produced crude and reduce its viscosity. The locally manufactured chemical matches imported specifications and is expected to cut costs by $200–300 per barrel of demulsifier. It has been applied in GPC fields as a first practical application, achieving significant financial savings and has granted approval for wider deployment during the current year at Badr El Din Petroleum (BAPETCO), Suez Oil Company (SUCO), and PetroBaker Petroleum Company sites.
Bringing together female talents and energy industry leaders to bridge experience gaps through mentorship, knowledge sharing, and impactful conversations, Egypt’s Women in Energy Network (EWiEN), launched in 2022 as a working group under the Egypt Oil & Gas Committee, has led several initiatives supporting women throughout their career journeys. Most recently, on January 28, EWiEN hosted a speed-mentoring event, sponsored by ExxonMobil, under the "Career Women Pillar and themed Grow, Advocate, Lead". The event featured short, focused conversations with experienced mentors and professional coaches, offering practical insights, career guidance, and meaningful support for professional growth.
North Sinai Petroleum Company (NOSPCO) has announced an investment budget of $89 million for the upcoming fiscal year (FY), targeting the drilling of three new exploration wells. The plan aims to sustain and increase current production levels, which stand at approximately 60 million cubic feet per day (mmcf/d), as part of the company's five-year production strategy.
In a separate session, South Abu Zenima Petroleum Company (PetroZenima) and Malek Petroleum Company (PetroMalek) reviewed their own financial and production plans. Tarek Abdel Fattah, Chairman of PetroZenima, presented an investment budget of $23.6 million for the FY 2026/2027. The focus will be on accelerating exploration across promising geological areas within their concessions.
The Petroleum Pipelines Company (PPC), a state-owned company specialized in transporting crude oil and its products between production fields, refineries, and distributors, plans to implement EGP 16 billion projects aimed at developing, replacing, and enhancing the efficiency of Egypt’s national pipeline network, Haggag Kilany, PPC Chairman, said during a meeting chaired by Minister of Petroleum and Mineral Resources Karim Badawi to approve the company's 2026/27 budget.
Badawi stressed the importance of increasing capital expenditure to modernize the pipeline infrastructure of crude oil and refined products, thereby strengthening network reliability, capacity, and operational resilience.
The Cairo Oil Refining Company (CORC), Egypt’s largest refining entity, plans to invest EGP 679 million in local manufacturing projects during the 2026/27 fiscal year (FY). CORC Chairman Tarek Abdel Latif announced the target during a general assembly meeting held to approve the company’s investment budget.
During the meeting, Cahired by Minister of Petroleum and Mineral Resources Karim Badawi, Abdel Latif highlighted CORC's role in deepening local industry through its specialized manufacturing workshops. These facilities, equipped with modern machinery, serve as a critical pillar for the national refining sector by providing essential equipment and technical services to sister companies.
Karim Badawi, Minister of Petroleum and Mineral Resources, held an expanded meeting with leaders of international oil and gas companies (IOCs) operating in Egypt to discuss a five-year roadmap to intensify exploration and production (E&P) activities. The meeting focused on accelerating operations through 2030 and introducing new incentive packages to attract further investment.
Minister of Petroleum and Mineral Resources Karim Badawi announced an ambitious 2026 roadmap featuring the drilling of 101 exploratory wells to bolster national reserves. Speaking at an American Chamber of Commerce (AmCham) meeting, Badawi confirmed that the Ministry successfully reversed the production decline to reach stability by the end of 2025.
