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.
In a high‑level meeting with senior executives from oil and gas companies, Petroleum and Mineral Resources Minister Karim Badawi announced plans to deploy horizontal drilling and hydraulic fracturing techniques to boost output.
Badawi confirmed the ministry’s readiness to apply these advanced technologies after establishing a favourable investment climate and introducing new incentive schemes for exploration and production firms.
Badawi highlighted these technologies' proven success in boosting production in other countries.
The European Bank for Reconstruction and Development (EBRD) has extended a $65 million construction bridging loan to Egypt’s HAU Energy, a Joint Venture between the bank, Hassan Allam Utilities (HAU) and the asset management firm Meridiam, for the development of a new renewable energy project in Benban, near Aswan.
The bridging loan, which is a short-term loan to cover the project expenses till the project's financing is secured, will be used to finance the construction and installation of a 200 megawatt (MW) solar photovoltaic (PV) plant and a 120 megawatt-hour (MWh) battery energy storage system (BESS) in Benban, near Aswan, according to an EBRD statement.
The project is expected to cut carbon dioxide emissions by up to 280,000 tons annually, marking a significant step in Egypt’s renewable energy expansion. The new facility is designed to strengthen grid stability and reduce reliance on imported fuels, while advancing Egypt’s climate goals under Vision 2030.
Ten petroleum companies are set to be temporarily listed on the Egyptian Stock Exchange (EGX) under the government’s privatisation programme, following a meeting chaired by Prime Minister Mostafa Madbouly with Karim Badawi, Minister of Petroleum and Mineral Resources, and senior officials from the Cabinet and the ministry.Â
The temporary listing gives companies six months to get their paperwork and finances in order before trading starts on their shares.Â
Madbouly emphasised that the decision aligns with the State Ownership Policy, which seeks to expand the private sector’s role across key economic activities. He noted that the temporary listing of petroleum companies is intended to improve performance, enhance competitiveness, and attract new investments.
The State Ownership Policy is the strategic framework revealed in 2022 to limit the state’s role in the economy by identifying specific sectors for total or partial divestment to increase private sector participation to 65% of total investments.
Karim Badawi, Minister of Petroleum and Mineral Resources, met with a delegation from France’s TotalEnergies to discuss investment opportunities in the deep waters of the Western Mediterranean, specifically within the Herodotus Basin.
