Egypt's Oil Sector Sees Growth Amid Global Volatility
EGPC Chief Salah Abdel Karim unveiled strong performance indicators for fiscal year 2025/2026, marking a return to growth in crude oil production. The corporation navigated an exceptionally challenging year with volatile global energy markets, supply-chain disruptions, and rising operating costs.
The sector succeeded in stabilizing output before moving into positive growth, reversing the downward trend in crude oil production. Total investment in exploration and production reached approximately $4.5 billion during FY2025/2026.
Abdel Karim also announced 63 new discoveries, 48 oil discoveries and 15 gas discoveries, and the successful tendering of a major seismic survey covering up to 111,000 square kilometers of Egypt's Western Desert. The project will deploy advanced technologies to generate higher-quality subsurface data, reduce exploration risk, and encourage companies to invest in frontier areas.
Refinery throughput rose to around 28 million tonnes in FY2025/2026, compared with approximately 25.3 million tonnes in the previous fiscal year, an increase of about 2.7 million tonnes. The ANOPC project nears completion, with construction reaching approximately 90%.