Egypt Signs Four New Oil and Gas Exploration Deals Worth Over $340 M

• Sunday, 31st August 2025
• by Sarah Samir

Within the framework of the Minister of Petroleum's strategy to intensify research and exploration activities and increase production, the Egyptian Natural Gas Holding Company (EGAS) signed four new agreements with Shell, Eni, ARCIUS Energy and Russia's State-Owned Zarubezhneft to explore for gas and oil in the Mediterranean Sea and the Delta. The agreements cover the drilling of 10 wells with a total minimum investment of more than $340 million.

The agreements were formally signed by Mahmoud Abdel Hamid, Chairman of EGAS, in the presence eof Karim Badawi, Minister of Petroleum and Mineral Resources. 

Badawi Talks Boosting Exploration in Meeting with PM

• Thursday, 28th August 2025
• by Sarah Samir

In a meeting with Mostafa Madbouly, Egypt’s Prime Minster, Karim Badawi, Minister of Petroleum and Mineral Resource, reviewed the expansion plans for various exploration and discovery activities, as well as the efforts to attract more international companies to invest in this promising sector.

BAPTECO Produces 53,000 BOE/D, Drills 18 New Wells in Fiscal Year 2024/2025

• Thursday, 28th August 2025
• by Doaa Ashraf

Badr El Din Petroleum (BAPTECO) has produced an average of 53,000 barrels of oil equivalent per day (boe/d) this year, drilled 18 wells and carried out 79 well workover and recompletion operations with total investments amounting to $183 million, Chairman Ashraf Abdel Gawad told the company's general assembly chaired by minister of Petroleum, Karim Badawi.

GUPCO Invests $452M in FY 2024/25

• Thursday, 28th August 2025
• by Sarah Samir

Gulf of Suez Petroleum Company (GUPCO) invested $452m in FY 2024/25, maintained production level at around 57,000 barrels per day (bbl/d) and completed the first phase of the North Safa field, Abdul Wahab El-Maghawry, the company's Chairman, told its General Assembly headed by Minister of Petroleum and Mineral Resources Karim Badawi.

 El-Maghawry added that the second phase of the North Safa Field is expected to go online in the third quarter of the current fiscal year. He also said the company is currently implementing a plan to drill and repair 14 wells in its concessions.

Abu Qir Fertilizers Revenue Up 24% in 2024/2025

• Thursday, 28th August 2025
• by Doaa Ashraf

Abu Qir Fertilizers and Chemical Industries posted a 31% decline in its net profit for the fiscal year ending in June 2025 compared to the previous year to settle at EGP  9.34 million, according to a statement sent by the company to the Egyptian stock exchange.

A New Agiba Western Desert Exploration Well to Add 3,100 (boe)

• Wednesday, 27th August 2025
• by Sarah Samir

The exploration activities in the North Lotus Deep-1 well in Western Desert yielded positive results and it will add about 1,835 barrels of crude oil per day (b/d) and 7 million cubic feet of natural gas daily (mcf/d), which is equivalent to 3,100 barrels of oil equivalent (boe), according to a press release by the Ministry of Petroleum and Mineral Resources (MoPMR). With estimated reserves of about 5 million (boe), the well has already been put on the production map.

CPC Sold 9.4 M Tons of Petroleum Products in 2024/25

• Wednesday, 27th August 2025
• by Sarah Samir

The Cooperation Petroleum Company’s (CPC) sold 9.4 million tons of petroleum products, including gasoline, diesel, and mazut, in fiscal year (FY) 2024/25, according to Mostafa El Sayed, the company’s Chairman.

Petrogas Provides 3.674M Tons of Butane in FY 2024/25

• Wednesday, 27th August 2025
• by Sarah Samir

Petroleum Gas Company’s (Petrogas) provided 3.674 million tons of butane in fiscal year (FY) 2024/25, in coordination with the Egyptian General Petroleum Corporation (EGPC), Petrogas’ Chairman, Mohamed Farhat noted during the general assembly chaired by Karim Badawi, the Minister of Petroleum and Mineral Resources.

Misr Petroleum Records 8.6mn Tons of Petroleum Products, Lubricants Sales in FY 2024/2025

• Wednesday, 27th August 2025
• by Doaa Ashraf

Misr Petroleum recorded total sales of 8.6 million tons of petroleum products and lubricants in fiscal year (FY) 2024/2025, said company’s Chairman Mohamed Maged Bakheet during the general assembly meeting chaired by Karim Badawi, the Minister of Petroleum and Mineral Resources. The company also upgraded its fueling and service station network. It developed 60 stations and inaugurated seven new ones, bringing the total to 1,562 stations nationwide. Moreover, the company started the construction of two integrated stations in the New Administrative Capital.

Egypt Boosts Zohr Gas Production, Adding 65 mmcf/d

• Tuesday, 26th August 2025
• by Doaa Ashraf

Putting the Zohr-6 well into production has added 65 million cubic feet of gas per day (mmcf/d) , said Karim Badawi, Minister of Petroleum and Mineral Resources during the general assembly meetings of Belayim Petroleum Company (Petrobel) and Petroshorouk to approve the results of the fiscal year 2024/2025, in the presence of petroleum sector leaders and representatives of international investment partners Italian Eni, British bp, Russian Rosneft, Hungarian Arkeus Energy, and Emirati Mubadala.