14 New oil and gas exploration areas opened to investment in Egypt
Petroleum Minister Karim Badawi unveils new lic...
Thursday, 20 August 2026
This averaged approximately 32,500 barrels per day (b/d), a 6% increase over the previous year. Additionally, the company produced 2.2 billion cubic feet (bcf) of associated gas, Ashraf Bahaa, Ganope chairman, stated. This production growth resulted from drilling, completing, and repairing more than 60 development wells. This came during the general assembly chaired by Karim Badawi, Minister of Petroleum and Mineral Resources, to approve the results for FY 2024/25.
By the end of FY 2024/25, Ganope had successfully finalized eight effective agreements, with four more areas in the process of being allocated. Furthermore, the company is coordinating 15 promising investment opportunities with the Egypt Upstream Gateway (EUG) for promotion. These agreements and investments support exploration, which included the drilling of six new exploratory wells after conducting the necessary technical studies, at a total cost of $21 million.
Moreover, Badawi emphasized the importance of promoting and supporting investment areas in southern Egypt to attract foreign companies to concession areas. Support will focus on seismic surveys, which are studies used to explore and map underground oil and gas deposits. Additionally, several private sector companies are beginning to operate or invest in the concession areas in southern Egypt.
The minister also directed increased support for human resources through training programs.
