Petroshahd and Hamra Oil approve 2025/2026 fiscal year results

The Egyptian General Petroleum Corporation has approved the financial results for the 2025/2026 fiscal year for Petroshahd Petroleum and Hamra Oil. During the general assembly for Petroshahd, CEO Salah Abdel Karim emphasized that balancing increased production, cost reduction, and strict adherence to health, safety, and environmental (HSE) standards is essential for sustainability amidst global energy challenges.

Petroshahd reported a daily production rate of 7,730 barrels of oil and condensates, the drilling of three developmental wells, and 4.8 million safe work hours without accidents. The company also received the Operational Excellence Award at the 11th Egypt Oil & Gas Conference (EOGC 2025) for its risk visualization project using Power BI analytics.

Strategic priorities for the upcoming period include expanding exploration activities, increasing well drilling, and investing in renewable energy projects to reduce diesel consumption and emissions. Partners, including United Energy and Enap Sipetrol, expressed their commitment to these exploration and sustainability goals.