Minister of Petroleum and Mineral Resources, Karim Badawi, emphasized the urgency of accelerating the development of discovered oil and gas sites to increase domestic production and reduce Egypt's reliance on imports. He highlighted the potential of Egypt’s brownfields, which can be further tapped through modern technologies and seismic data.

These remarks were made during the General Assembly meeting of the Pharaonic Petroleum Company (PhPC), held via video conference to approve the results of the fiscal year 2023/24. 

PhPC Chairman Hossam Zaki reported that the company successfully achieved 98.5% of its approved production plan for the year, with an average daily output of 79,000 barrels of oil equivalent (boe/d). He also highlighted the company’s commitment to sustainability, having achieved 32 million safe working hours without injury, while enhancing energy efficiency by utilizing solar panels instead of fuel.

Francesco Gasparri, General Manager of Eni Egypt, reiterated the company's efforts to boost production while cutting costs. Meanwhile, bp Egypt's Vice President Wail Shaheen emphasized the critical role of modern technologies in reducing emissions and enhancing operational efficiency. Shell Egypt’s Dalia El Gabry confirmed that they are focused on integrating new discoveries into the production map.