The Egyptian General Petroleum Corporation (EGPC) hosted a meeting with several exploration managers from joint venture companies (JVs) to review exploration and appraisal activities and discuss the petroleum sector’s five-year plan to boost hydrocarbon production and reserves, following the ministry’s later meeting on the same strategic priorities.
Ahmed Kamal, Deputy CEO for Exploration at EGPC, credited the exploration teams’ efforts in the JVs with adding new reserves and supporting field development, in line with the Ministry of Petroleum and Mineral Resources’ strategy.
He said that timely settlement of partners’ dues and adherence to work programs require greater effort from EGPC and JV exploration teams. He also highlighted JV successes in the Western Desert, the Gulf of Suez, and the Offshore Nile Delta.
Attendees also discussed targets for the next phase of the five-year plan. EGPC instructed each JV, with its foreign partner, to prepare a regularly updated portfolio of exploration opportunities within its concession areas, including technical and economic evaluations to enable rapid execution of viable projects. The meeting emphasized maintaining direct, continuous communication with joint ventures to accelerate approvals, simplify procedures, and remove operational obstacles.
Participants reviewed key challenges, especially the shortage of technical personnel. Discussions focused on maximizing existing expertise and improving workforce allocation to ensure quality and timely project execution.
El Desouky concluded by highlighting how AI drives advances in the global petroleum industry by analyzing geological and seismic data, improving exploration accuracy, enhancing decision-making, reducing risks and costs, and shortening technical study times.
At the end of 2025, Karim Badawi, Minister of Petroleum and Mineral Resources, outlined a new five-year plan for oil and gas exploration and production during a high-level meeting with leaders and representatives of international oil companies (IOCs) operating in Egypt on December 20, building on the earlier discussions with EGPC and joint ventures.
The plan prioritizes achieving self-sufficiency in crude oil while continuing to boost natural gas output, highlighting the government’s focus on strengthening energy security, according to a statement by the Ministry of Petroleum and Mineral Resources. The strategy also aims to limit Egypt’s import bill by channeling surplus from local production into value-added industries and exports.
