The General Petroleum Company (GPC) has unveiled a robust plan to bolster Egypt’s oil and gas production capabilities by drilling 41 new wells in the Eastern and Western Deserts, as well as the Gulf of Suez, during the fiscal year 2025/2026. This strategic move is part of a broader initiative to enhance the country’s energy independence and reduce reliance on imports.
Mohamed Abdel Mageed, the Chairman of GPC, detailed the company’s ambitious agenda during a recent meeting focused on the investment budget for the upcoming fiscal year. Alongside the new drilling projects, GPC intends to repair and complete 39 wells across its various fields, underscoring a comprehensive approach to maximizing output.
Reflecting on achievements in the first half of the current fiscal year, Abdel Mageed highlighted the successful drilling of 17 new production wells and the completion of repairs on 40 others. A standout achievement is the integration of the exploratory well GG83/3 in the North Amer field into the production map, with additional plans to drill a third well in the sector.
Moreover, repairs on two wells at the GG1 production platform have significantly boosted output, increasing total production to 3,300 barrels per day—a remarkable rise of 1,700 barrels since July. This surge aligns with Egypt’s strategic objectives to fortify domestic production capabilities.
Karim Badawi, the Minister of Petroleum and Mineral Resources, reiterated the government’s commitment to augmenting local oil and gas production. Such efforts are crucial for reducing import costs and achieving key economic milestones. Badawi emphasized the importance of attracting investments to drive resource development, aiming to foster collaborations that will spearhead priority projects and substantially increase production levels.
According to the International Energy Agency, Egypt’s oil production has seen fluctuations over the years, with current efforts aiming to stabilize and grow output. Industry specialists, like energy analyst Dr. Hossam Eldin, commend these initiatives, noting, “Egypt’s strategic push to enhance its oil and gas sector is vital not only for energy security but also for economic resilience.”
As GPC and the Egyptian government continue to push forward with these initiatives, the focus remains steadfast on reinforcing the nation’s position as a key player in the regional energy market.
