Egypt's Abu Qir Petroleum Maintains Production in FY 2025/26

Abu Qir Petroleum Company, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and the Greek Energean, maintained average production at around 27,900 barrels of oil equivalent per day (boe/d) during fiscal year (FY) 2025/26, with production remaining stable throughout the year following operational debottlenecking and production optimization efforts, according to the company’s general assembly results.

The company also reported a zero lost-time injury frequency rate (LTIFR) during the fiscal year, while advancing new exploration opportunities across its concession areas and working to accelerate the development of discoveries.

Hany Aziz, the company’s Chairman and Managing Director, presented the results at the company’s general assembly meeting, which approved the FY 2025/26 results. The meeting was attended by Mathios Rigas, Energean’s CEO, and Nicolas Katcharov, CEO of International Energean, alongside Salah Abdel Kerim, EGPC’s CEO.

Rigas and Katcharov reaffirmed Energean’s commitment to Egypt, praising the support provided by state institutions and the performance of the Egyptian petroleum workforce. They also highlighted opportunities to increase oil and gas production through further investment, technology deployment, and innovative solutions to improve exploration, development, and production efficiency.

Aziz said that Abu Qir Petroleum Company’s production stability was achieved through efforts to improve output and remove operational bottlenecks, while the company also recorded savings in production costs, developed its workforce, and strengthened its health, safety and environmental systems.

Energean acquired its Egyptian upstream portfolio from Italy’s Edison E&P, including its interests in the Abu Qir area, as part of the acquisition of Edison E&P.

Energean owns 100% of the North El Amriya (NEA) and North Idku (NI) concessions, while both areas are operated through separate 50/50 joint ventures and fall under the overall management of Abu Qir Petroleum.