Ganoub El Wadi Petroleum Holding Company (Ganope) and its subsidiaries produced about 12 million barrels of crude oil during fiscal year (FY) 2024/25. 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.
Karim Badawi, Minister of Petroleum and Mineral Resources, chaired the general assembly that approved the results.
By the end of FY 2024/25, Ganope had reached eight effective agreements, with four additional areas under allocation. The company is coordinating 15 promising investment opportunities with the Egypt Upstream Gateway (EUG) for promotion. Exploration efforts expanded with the drilling of six new exploratory wells after conducting the necessary technical studies, at a total cost of $21 million.
Badawi emphasized the importance of promoting investment areas in southern Egypt to attract foreign companies to concession areas. Support will focus on seismic surveys scheduled soon, alongside several private sector companies entering southern Egypt’s concessions.
The minister also directed increased support for human resources through training programs.