The Pharaonic Petroleum Company (PhPC) recorded an average output of 76,100 barrels of oil equivalent per day (boe/d), exceeding its approved production plan by 119% for fiscal year (FY) 2024/2025, said chairman Hossam Zaki in the company’s general assembly meeting to review its key performance results.
"Egypt's Oil and Gas production is back on Track, with the sector succeeding in overcoming the decline witnessed in recent years to start a phase of gradual production increases," the Ministry of petroleum and Mineral Resources(MoPMR) said in a press release accompanied by infographics showing the main measures taken by the government to reach this point.Â
A delegation, including big names in Egypt's oil and gas industry, attended the first Baghdad International Energy Forum, held from September 6-7 under the theme "Towards Optimal Investment in Oil and Gas in Parallel with the Energy Transition."
The delegation, authorized by Karim Badawi, Minister of Petroleum and Mineral Resources, included Ehab Ragaee, First Undersecretary of the Ministry for Production; Salah Abdel Kerim, Chairman of the Egyptian General Petroleum Corporation (EGPC); and several other sector leaders.
A significant leap in the production of the Badr-1 concession area was achieved by Badr Petroleum Company in fiscal year (FY) 2024/2025, chairman Ibrahim Massoud revealed at the company’s general assembly reviewing the year’s financial results. He added that execution reached 143% of the targeted plan, resulting in a total daily output of 6,440 barrels of oil equivalent (boe). Moreover, two exploratory wells and two development wells were drilled, which helped enhance production and increase capacity, while also adding approximately 10 million barrels (mmbbl) of confirmed oil equivalent reserves.
Al-Hamra Oil Port in Al-Alamein city received and handled 74 million barrels (mmbbl) of oil during fiscal year (FY) 2024/2025, said Ibrahim Massoud, chairman of the port’s operator, West Desert Petroleum Company (WEPCO).
Speaking at the company’s general assembly meeting, headed by Karim Badawi, Minister of Petroleum and Mineral Resources, Massoud further shed light on the progress made on the port’s northern expansions, carried out by Petrojet, the engineering and construction giant specializing in large-scale petroleum and energy infrastructure projects. He also underlined the ongoing southern expansion works, noting that the developments aim to establish Al-Hamra Oil Port as a distribution hub for petroleum products, with a storage capacity of 130,000 tons, serving Al Alamein and Egypt’s northwestern Mediterranean coast.
The Egyptian General Petroleum Corporation (EGPC) signed 11 new agreements for oil and gas exploration and production, and 12 contracts for development and production projects during fiscal year (FY) 2024/25, said Salah Abdel Kerim, EGPC chairman. The Corporation has also reported 49 new oil and gas discoveries, alongside implementing the drilling plans for 71 exploratory wells.
UAE Dragon Oil has signed a new agreement with the Egyptian General Petroleum Corporation (EGPC) to drill at least two new oil and gas wells within East El-Hamd area in the Gulf of Suez region with investments of around $30 million, according to a press release by the company.
The Egyptian General Petroleum Corporation (EGPC) has signed three new agreements with international companies to explore for oil and gas in the Western Desert, Gulf of Suez, and North Sinai regions.
Energean, an international hydrocarbon exploration and production company, estimated the overall potential gas reserves in its Egyptian platforms at an additional 3 trillion cubic feet (tcf) , Mathios Rigas, the company’s CEO told Reuters.
The company fully owns Abu Qir, North East Almreya, and North Idku concessions, with minority stakes in East Bir El Nems and North East Hap’y concessions. Energean also reported a revenue decline in H1 2025 compared to the same period last year.
The Egyptian Petrochemicals Holding Company (ECHEM) has contributed 4 million tons per year (mt/y) to the overall Domestic petrochemicals industry during the 2024/2025 helping to meet local demand and enhancing export opportunities, said Chairman Ibrahim Mekki during the company’s general assembly meeting.
