Deep penetration of, and unparalleled experience in, Egypt’s oil & gas sectors are why leading internationals rely on our expertise to thrive. Our portfolio of partners includes: Baker Huges, Red Wing International ,Mokveld, Garsport, Dresser, Power Feed-Thru Systems & Connectors, Styrecast, Grippaz, Phoenix Oilfield Services and others.
How many international oil companies are there in Egypt?
The Egyptian government encourages international oil companies (IOC) to participate in the oil and gas sector. More than fifty IOCs are currently operating in the country at present. Egypt hopes to achieve self-sufficiency in petroleum products by 2022.
How much oil does Egypt have?
The country’s proven hydrocarbon reserves stood at 3.6 billion barrels of oil and 75.5 trillion cubic feet (tcf) of natural gas at the end of 2020. The Egyptian government encourages international oil companies (IOC) to participate in the oil and gas sector.
Why is oil & gas a major economic sector in Egypt?
The oil and gas industry is one of the most dynamic economic sectors in Egypt. Hydrocarbon production is by far the largest single industrial activity in the country, representing around 24 percent of total GDP in FY 2019-2020. FDI in the oil and gas sector has increased from USD 9 billion in FY 2014/2015 to USD 47.8 in FY 2019/2020.