Egypt’s government, through EGPC, owns or partially owns a large group of companies, including the Gulf of Suez Petroleum Co. (Gupco), Petrobel, General Petroleum Co. (GPC), Badr el-Din Petroleum Company, Suez Oil Company, and El Zaafarana Oil Company. All of Egypt’s refineries are run by EGPC subsidiaries.
When will oil & gas exploration start in Egypt?
According to the U.S. oil and gas giant, it is set to drill the first oil and natural gas exploration well in its concession area in the Red Sea in Egypt during the first half of 2024. This follows extensive seismic surveys, geological studies, and geophysical data collection by the company earlier this year.
What is the National Oil Company in Egypt?
The National oil company is the Egyptian General Petroleum Corporation . Egypt is estimated to hold 12,446 million barrels (1,980 million cubic metres) initial recoverable liquid reserves.