Tharwa Petroleum Company, a state-owned company, recorded strong operational and production results in 2025, achieving a 15% increase in output compared to the previous year following the successful drilling of four new wells in the Western Desert, Chairman and Managing Director Saeed Abdel Moneim reported. The wells were initially drilled to offset natural production decline, but results exceeded expectations and bolstered overall growth.
Average daily production surpassed 5,000 barrels, yielding total annual crude oil output of approximately 1.9 million barrels (mmbbl). The company also added new petroleum reserves, with crude oil sales exceeding 500,000 barrels during the year.
As part of its expansion strategy, Tharwa conducted comprehensive technical and economic studies across 12 new concession areas in Egypt. This resulted in two bid submissions: one to the General Petroleum Company (GPC) for the Northwest October area, and another to the Egyptian Natural Gas Holding Company (EGAS) for the North Mansoura area. The company also convened discussions with international partners to explore further collaboration opportunities.
On the development front, Tharwa submitted a development agreement proposal for the Nour-1 discovery to EGAS and finalized studies for drilling the Nour Southwest-1 well in the Nour offshore area, with drilling scheduled to begin in the first half of 2026. Agreements were also reached with partners to drill the Narges-2 appraisal well in the Narges offshore area, along with the Velox-1X exploration well in the North Cleopatra area during the same year.
These results were reviewed during the general assembly meeting attended by Minister of Petroleum and Mineral Resources Karim Badawi, along with senior officials from the ministry, the Egyptian General Petroleum Corporation (EGPC), EGAS, South Valley Egyptian Petroleum Holding Company (Ganope), and representatives of the Central Auditing Organization.
Tharwa Petroleum Company is an Egyptian upstream operator, affiliated with the Egyptian General Petroleum Corporation (EGPC). It was established in 2004 as Egypt’s first joint-stock petroleum company fully owned by the state, focusing on exploration, production (E&P), and petroleum services.
