Minister of Petroleum and Mineral Resources Karim Badawi praised the outstanding performance of the Egyptian General Petroleum Corporation (EGPC) and its results during fiscal year 2025/2026, stressing that the company is a key pillar of efforts to increase domestic production and maximize the use of oil fields and assets, particularly mature fields, through the deployment of advanced technologies and artificial intelligence.
The minister made the remarks on Sunday, September 6, 2026, during a General Assembly meeting of the General Petroleum Corporation to approve its results for fiscal year 2025/2026. The meeting was attended by Minister of Electricity and Renewable Energy Mahmoud Esmat and Minister of Local Development and Environment Manal Awad participated via videoconference, along with senior officials from the ministry, the EGPC, the Egyptian Natural Gas Holding Company (EGAS), the Central Auditing Organization and the General Trade Union of Petroleum Workers.
Badawi said the company demonstrated its ability to efficiently address the challenges facing mature fields and turn available technology and data into practical tools for boosting production and discovering new reserves. He described the company as EGPC’s “right arm” in deploying advanced technologies and artificial intelligence.
He also praised the company’s efforts to analyze field data using modern technologies, enabling it to identify promising production opportunities and maximize the output of existing wells. He stressed the importance of expanding the use of artificial intelligence and advanced technologies as key drivers of higher production and greater operational efficiency.
The minister underscored the importance of continuing to meet financial obligations to partners, supporting drilling, exploration and production programs and encouraging additional investment. He noted that investment partners’ provision of advanced technologies and drilling rigs enables access to new areas and geological formations, while also allowing the potential of older wells to be reassessed using tools that were unavailable when they were originally drilled, potentially leading to new discoveries and increased reserves.
For his part, EGPC Chairman Mohamed Abdel Meguid reviewed the company’s results for fiscal year 2025/2026, noting that average daily production reached around 77,000 barrels of oil equivalent. He said the company achieved a record 12 oil discoveries, the highest annual number in its history, by leveraging modern technologies to analyze field data.
Abdel Meguid said the company is preparing to drill its first horizontal well in the Western Desert and is conducting tests on the NEST-8 well following the completion of its first hydraulic fracturing operation. The efforts are part of the Ministry of Petroleum and Mineral Resources’ strategy to expand the use of horizontal drilling and hydraulic fracturing technologies to boost oil production.
Regarding asset efficiency and energy conservation, the chairman said operational efficiency measures reduced energy consumption by 22%, from around 103,000 tons of oil equivalent to approximately 80,000 tons, generating savings of dlrs 11 million. The company also maximized the use of its infrastructure by processing and shipping 7 million barrels of oil equivalent on behalf of sister petroleum companies, generating revenues of dlrs 30 million.
Total investments implemented by the company reached around EGP 8 billion, representing 105% of the revised budget, in addition to approximately $120 million in investments by production service companies. In occupational health and safety and process safety, the company continued implementing an integrated system to strengthen safety standards, including intensified training, risk reassessment and enhanced emergency preparedness.
It recorded 7 million safe working hours during the year, reflecting its commitment to providing a safe working environment and promoting a strong safety culture among employees.