Egypt’s General Petroleum records 12 oil discoveries in FY 2025/2026

Egypt’s General Petroleum Company (EGPC) recorded a record 12 oil discoveries during FY 2025/2026, its highest annual discovery rate in history, while average daily production reached around 77,000 barrels of oil equivalent. The figures were announced on Sunday during EGPC’s general assembly meeting to approve its FY 2025/2026 results.

EGPC is preparing to drill its first horizontal well in the Western Desert and is testing the NEST-8 well following its first hydraulic fracturing operation. The move is 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.

The company also cut energy consumption by 22 per cent to around 80,000 tonnes of oil equivalent from 103,000 tonnes, generating $11 million in savings.

EGPC processed and shipped 7 million barrels of oil equivalent for sister petroleum companies, generating $30 million in revenues.

The company implemented investments worth around 8 billion Egyptian pounds, equivalent to 105 per cent of its revised budget, while production service companies invested around $120 million.

EGPC also recorded 7 million safe working hours during the year as part of efforts to strengthen occupational health, safety and process safety.