New Valley Company for Mineral Resources and Oil Clay (Wadico) Chairman Amgad Ghoneim said that his company expanded its drilling activities for phosphate ore, adding new reserves estimated at approximately 6.6 million tons. He stated that this is an unprecedented increase of 160% compared to the additions made in 2023, and a 53% rise over the total reserves confirmed since the company's inception nearly 20 years ago.
Minister of Petroleum and Mineral Resources Karim Badawi, alongside Mohamed El-Zamlout, Governor of the New Valley, inaugurated the main gas station of TAQA Gas in El-Kharga city. The station will supply the city with gas through a permanent pressure reduction station. Medium- and low-pressure pipelines, spanning 270,000 meters, have been laid to supply houses with natural gas.
Minister of Petroleum and Mineral Resources, Karim Badawi, accompanied by Mohamed El-Zamlout, Governor of New Valley, and several members of the Parliament, led an inspection tour of Misr Phosphate Company’s phosphate production projects in the Abu Tartour plateau, New Valley Governorate. They also followed up on the progress of work in the phosphoric acid production project.
President Abdel Fattah El-Sisi met with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources, Karim Badawi to discuss efforts to meet the country’s petroleum needs and review the latest oil and gas discoveries made between July 2024 and May 2025. Sisi directed the two officials to accelerate the development of newly discovered wells, intensify exploration activities, provide investment incentives, and remove obstacles hindering foreign investors in Egypt's oil, gas, and mining sectors.
The International Drilling Material Manufacturing Company (IDM) recorded revenues of EGP 1.9 billion and a net profit (EBITDA) of EGP 270 million, during 2024, according to its Chairman, Karim Hammam.
President Abdel Fattah El Sisi met with Wael Sawan, Shell’s CEO, in the presence of Mostafa Madbouly, Egypt’s Prime Minister; Karim Badawi, Minister of Petroleum and Mineral Resources; and Dalia El Gabry, VP and Country Chair at Shell Egypt.
International hydrocarbon exploration and production company Energean is planning to optimize its offshore concessions in Egypt while exploring new areas in the Nile Delta Region, according to the company’s operational updates and performance results for the first quarter of 2025 (Q1 2025), which ended March 31.
The company is also exploring near-field infill drilling opportunities around the Abu Qir concession area in the Nile delta region, where it holds over 30 million barrels of oil equivalent (mmboe) of recoverable reserves.
The Cabinet, chaired by Prime Minister Mostafa Madbouly, approved Wednesday the use of the R-Factor (Profitability Factor) in certain petroleum agreements based on specific standards and conditions for each region. This new system is expected to attract more companies to operate in untapped areas of the Mediterranean and beyond. It will also serve as an incentive for companies to engage in exploration activities more effectively, ensuring mutual benefits for all parties involved.
The Egyptian General Petroleum Corporation (EGPC) and the International Egyptian Oil Company (IEOC), an Eni affiliate, announced that their joint ventures, Belayim Petroleum Company (PETROBEL) and Agiba, have surpassed a combined production of 110,000 barrels per day (bbl/d) of petroleum liquids.
The Ministry of Petroleum and Mineral Resources announced Tuesday a new agreement with Ardiseis, a subsidiary of Arabian Geophysical and Surveying Company (Argas), to conduct a 2D seismic survey spanning 5,233 kilometers across the West Assiut and Dakhla Basins. The company will be utilizing onshore node technology in Egypt for the first time—an advanced seismic data acquisition method mainly used in oil and gas exploration. It relies on wireless, autonomous seismic sensors (nodes) scattered across the survey area to capture super-high-resolution images of what lies beneath the surface.
