Egypt has a rich history in oil and gas production dating back to the early 20th century. The country's exploration efforts began around 1908, leading to significant discoveries and the establishment of major fields. One of the largest and most prolific oil fields is the Gulf of Suez Basin, discovered in 1956. This basin alone has contributed significantly to Egypt's oil production, with fields like the Morgan, Ramadan, and October fields being key contributors.
In addition to the Gulf of Suez Basin, Egypt boasts other major oil and gas fields such as the Western Desert fields, which include the Meleiha, West Ghazalat, and Alamein fields. These fields have added substantially to Egypt's hydrocarbon output over the decades. The Nile Delta Basin is another significant area, known for its natural gas reserves, particularly offshore in the Mediterranean Sea.
The development of Egypt's oil and gas sector has been driven by both national entities and international oil companies (IOCs). Major players include Egyptian General Petroleum Corporation (EGPC), which oversees much of the country's upstream activities, along with IOCs such as BP, Shell, Eni, and Apache Corporation, all of whom have made substantial investments in Egypt's oil and gas fields.
Offshore production is a crucial component of Egypt's hydrocarbon industry, with notable operations in the Mediterranean Sea, focusing primarily on natural gas extraction. The Zohr gas field, discovered in 2015 by Eni, stands out as one of the largest offshore gas fields in the Mediterranean and has significantly boosted Egypt's gas production capacity.
Over the years, Egypt has extracted considerable amounts of oil and gas, though exact figures vary with fluctuating production rates and new discoveries. The country's proven oil reserves stand at approximately 3.7 billion barrels, while its proven natural gas reserves are estimated at around 77 trillion cubic feet (Tcf).
Egypt is a net exporter of both oil and natural gas, exporting to regional markets in North Africa and the Middle East, as well as liquefied natural gas (LNG) to international markets. Oil exports have been a vital source of revenue for Egypt's economy, with annual earnings influenced by global oil prices and production levels. In recent years, revenues from oil and gas exports have contributed significantly to Egypt's GDP, supporting economic growth and infrastructure development initiatives across the country.
Field Acronyms
EUR_MMBOE = Estimated ultimate recovery in million barrels of oil equivalent
Giant oil and gas fields = those with 500 million barrels (79,000,000 m3) of ultimately recoverable oil or gas equivalent.
Super giant oil field = holds equivalent of 5.5bn barrels of oil reserves.
Amal (Egypt) Field, Egypt, Discovered 1959, Giant Field
Belayim Land Field, Egypt, Discovered 1955, Giant Field
Belayim Marine Field, Egypt, Discovered 1961, Giant Field
El Morgan Field, Egypt, Discovered 1965, Giant Field
El Temsah Field, Egypt, Discovered 1977, Giant Field
Ha'py Field, Egypt, Discovered 1996, Giant Field
July Field, Egypt, Discovered 1967, Giant Field
Nile Delta Field, Egypt, Discovered 2008, Giant Field
Northern Shedwan Block Field, Egypt, Discovered 2008, Giant Field
October Field, Egypt, Discovered 1977, Giant Field
Ramadan Field, Egypt, Discovered 1974, Giant Field
Sapphire Field, Egypt, Discovered 2000, Giant Field
Scarab-Saffron Field, Egypt, Discovered 1998, Giant Field
Simian Field, Egypt, Discovered 1999, Giant Field