Back toour markets

Egypt's Energy Industry

Tarek EL MOLLA

Minister of Petroleum and Mineral Resources

Egypt

We are witnessing giant international companies such as ExxonMobil and Chevron investing in Egypt for the first time in the upstream domain.
Read The Full Interview

in figures

Oil reserves3.1 billion barrels

Oil production608,000 bopd

Gas reserves2.1 tcm

Gas production67.8 bcm

Egypt

Egypt: Great Potential

Egypt is Africa’s largest non-OPEC oil producer and its third-largest natural gas producer, after Algeria and Nigeria.

After facing socio-political upheaval starting in 2011 which led to the ouster of two presidents within two years, including long-time leader Hosni Mubarak, Egypt has enjoyed relative political stability since Abdel Fattah El Sisi was elected president in 2014. That year, President El Sisi’s government launched an ambitious macroeconomic reform programme, which has helped the economy stabilise and improved the business environment in the country. In 2016, a new reform programme was introduced to enhance investor confidence and improve governance. Egypt has started to reap the benefits of these reforms, with real GDP growing at around 4-5% in recent years.

In December 2018 Egypt’s Ministry of Petroleum announced the country had achieved a major milestone: gas self-sufficiency. The overall production of natural gas is expected to reach around 204 mcm (7.2 bcf) per day by 2022.

Egypt struck fortune in 2015 with the discovery of an 850-bcm (30-tcf) super-giant gasfield in the Eastern Mediterranean, Zohr, which alone could meet more than half the country’s demand. The discovery was made by Eni, whose total investment in the project will amount to as much as USD 16 billion. Zohr represents the largest gas discovery ever made in Egypt and the Mediterranean. Eni brought production at the Zohr field to 76.5 mcm (2.7 bcf) per day ahead of schedule in 2019.

The increase in optimism surrounding the Egyptian oil and gas market is supported by the recent elimination of fuel subsidies, new bid rounds and new PSAs, as well as a 15% decline in oil and gas production costs.

The Oil & Gas Year Egypt 2019 is the most up-to-date and comprehensive report on the country’s hydrocarbons industry. The Energy Year Egypt 2021, currently under production, will showcase the most dynamic companies and projects across Egypt’s energy value chain.

Trends in Oman’s seismic services demand AGS Steve-THOMAS
Interview
Oman - March 21, 2023

Steve Thomas, managing director of Africa Geophysical Services (AGS), talks to The Energy Year about variables affecting demand…

READ MORE
African producers poised as Europe seeks alternate supplies Alberto-GALHARDO-SIMÕES
Interview
Angola - March 17, 2023

Alberto Galhardo Simões, partner and head of the Lusophone Africa practice at CMS Portugal, talks to The Energy Year about the…

READ MORE
Energean to explore CCS in Egypt
NEWS
Egypt - February 17, 2023

Energean has signed an MoU with Shell Egypt to explore carbon capture and storage options for a depleted field in Egypt, the…

READ MORE
Masdar to develop 5 GW of renewables in Africa
NEWS
UAE - January 23, 2023

Masdar has signed three agreements to develop 5 GW of renewable capacity in Angola, Uganda and Zambia, the Emirati green energy…

READ MORE
Egypt Concessions and Licences Map 2022

Egypt maps

Egypt Concessions and Licences Map 2022

    ALL MAPS
    Jeremy CRANE CEO YELLOW DOOR ENERGY
    Interview
    Abu Dhabi - January 17, 2023

    Jeremy Crane, CEO of Yellow Door Energy, talks to The Energy Year about the receptiveness to decentralised energy supply…

    READ MORE
    Apex acquires oil and gas assets in Egypt
    NEWS
    Egypt - January 13, 2023

    Apex International Energy has acquired interest in six concessions from Eni in the Western Desert of Egypt, the independent E&P…

    READ MORE
    UAE to supply Egypt with oil products
    NEWS
    Abu Dhabi - September 03, 2014

    Egypt is Africa’s largest non-OPEC oil producer and its third-largest natural gas producer, after Algeria and Nigeria.

    After facing socio-political upheaval…

    READ MORE
    Egypt gas shortage causing blackouts
    NEWS
    Egypt - August 20, 2014

    Egypt is Africa’s largest non-OPEC oil producer and its third-largest natural gas producer, after Algeria and Nigeria.

    After facing socio-political upheaval…

    READ MORE
    Egypt to borrow to pay debts
    NEWS
    Egypt - August 06, 2014

    Egypt is Africa’s largest non-OPEC oil producer and its third-largest natural gas producer, after Algeria and Nigeria.

    After facing socio-political upheaval…

    READ MORE

     

    WHOSE PLATFORM IS THIS?
    ASK US

    • Do you have a question for The Energy Year about oil and gas?
    • If we know, we’ll tell you.
    • If not, we’ll ask the experts in the field.