Petrobakr and Ash Al-Malaha approve 2025/2026 fiscal results

The Egyptian General Petroleum Corporation has approved the financial results for the 2025/2026 fiscal year for Petrobakr and Ash Al-Malaha Petroleum. During the meetings, Salah Abdel Karim, CEO of the Egyptian General Petroleum Corporation, emphasized the importance of accelerating investments and implementing agreed-upon production increase plans to reduce costs and maximize petroleum wealth.

Petrobakr reported a recent production peak of 11,871 barrels per day. Iman Hill, CEO of Falco Energy, noted that recent exploration projects are expected to lead to further drilling opportunities by 2027. The company is also moving forward with electricity connection projects and exploring renewable energy options, such as solar power and gas-to-power expansion, to reduce diesel reliance and lower emissions.