General Petroleum Company

The General Petroleum Company (GPC; Arabic: العامة للبترول) is an Egyptian state-owned oil company established by presidential decree on 2 September 1957 with a capital of one million Egyptian pounds, fully owned by the Egyptian government. It was created as the first national 'public sector' company to operate in the field of petroleum exploration and production in Egypt. Initially affiliated with the Economic Organization under the Minister of Trade, its dependency was transferred to the Egyptian General Petroleum Corporation (EGPC) by presidential decree No. 433 of 1983. GPC operates several concession areas, including the North West October (NWO) offshore concession in the Gulf of Suez, where it partners with PetroSalam. The company has undergone significant capital increases, reaching EGP 2.243 billion in 2020 and EGP 6.921 billion in 2022. Its current chairman is Mohamed Abdel Meguid, who has led the company since 2024.

The General Petroleum Company (GPC) was established by a presidential decree on 2 September 1957, with a capital of one million Egyptian pounds, as a fully state-owned company under the Economic Organization affiliated with the Minister of Trade. It was the first national 'public sector' company dedicated to petroleum exploration and production in Egypt. In 1983, Presidential Decree No. 433 transferred the company's affiliation to the Egyptian General Petroleum Corporation (EGPC). Over the years, GPC has expanded its operations through various concessions. The North West October (NWO) offshore concession in the Gulf of Suez, originally awarded to Arabian Oil Company (AOC) in 2004, was assigned to GPC in 2017 in cooperation with PetroSalam. The company has also increased its capital significantly: in 2020, a decision raised capital to EGP 2,243,148,000, and in 2022, another decision increased it to EGP 6,921,618,000. GPC continues to be a key player in Egypt's petroleum sector, with a series of chairmen leading its operations since 1957.

• 2022

  Capital increased to EGP 6,921,618,000.

• 2020

  Completion of offshore production facilities and start of full operation; capital increased to EGP 2,243,148,000.

• 2017

  NWO concession assigned to GPC through EGPC, in cooperation with PetroSalam.

• 2015

  EnQuest withdrew from the concession.

• 2011

  AOC suspended operations due to political conditions in Egypt and began selling its stake.

• 2010

  Partnership agreement signed with PICO; initial production began after successful drilling of NWO-1 and NWO-2 wells.

• 2004

  North West October (NWO) concession awarded to Arabian Oil Company (AOC) through international bidding.

• 1983

  Presidential Decree No. 433 transferred the company's affiliation to the Egyptian General Petroleum Corporation (EGPC).

• 1957

  Established by presidential decree on 2 September with a capital of one million Egyptian pounds.

Egypt's pioneering national oil company focused on exploration and production.

• Crude oil

  Produced from concessions such as North West October.

• Natural gas

  Produced as part of exploration and production activities.

1. 1General petroleum company - Wikidatawikidata.org
2. 2العامة للبترول - Wikipedia (Arabic)ar.wikipedia.org