Egypt reports 49 new oil, gas discoveries in FY 2024/25

Egypt’s petroleum sector made 49 oil and gas discoveries in fiscal 2024/25, signed 11 exploration and production agreements and 12 development contracts, the petroleum ministry said on Sunday.

The results were announced during the general assembly of Egyptian General Petroleum Corporation (EGPC), chaired by Petroleum Minister Karim Badawy.

EGPC CEO Salah Abdel Kerim said 71 exploratory wells were drilled under the implementation plan, with domestic production exceeding 60 million tons and covering the country’s entire consumption of 83.6 million tons of petroleum products and gas. Refining operations processed 25.3 million tons of crude to meet local demand.

Abdel Kerim said 18 energy-transition projects – including solar power, diesel reduction and flare gas recovery – generated annual returns of $58 million and cut nearly 270,000 tons of CO₂ emissions.

He added that a Centre of Excellence for safety and environmental protection was launched, industrial wastewater treatment projects were expanded, and 41 social projects were implemented across 19 governorates, benefiting 163,000 citizens.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser