WHY EGYPT?
Refineries:
Egypt has 7 refinery upgrading projects ongoing with a total investment of $8.6 billion.
Exploration:
28 new blocks for oil and gas exploration to international companies through six bid rounds over the past four years. Exploration area is 10,000 km2, and minimum investments are $326 million.
Upstream:
Egypt announced 55 discoveries in 2019, of which 40 were crude oil discoveries and 15 were natural gas discoveries.
Downstream:
$22 billion invested in the downstream, refining and petrochemicals domains.
Reforms: Leadership Achievements - Sector Level
The signing of the East Mediterranean Gas Forum (EMGF) statute in September 2021 symbolises an era of cooperation among the founding countries of Cyprus, Greece, Italy, Israel, Palestine, Jordan and Egypt, in which gas can be utilised as a resource for energy for the member countries. This has cemented Egypt’s leadership position in building a coalition of interdependent societies, establishing a partnership with the European Union, and forging a more prosperous and consciously sustainable energy future for the Eastern Mediterranean region.
Storage Capacity: The following projects were completed during 2019
SOPC established four diesel and gasoline tanks, with a total capacity of 45,000 m3: The project was completed in June with a cost of about EGP 70 million. SUMED established diesel storage facilities and handling imported petroleum products with a total capacity of 105,000 m3 in Ain Sokhna port, with a total cost of the two-stage project of about $415 million. Sonker’s bulk-liquids terminal in Ain Sokhna with a total capacity of 250,000 m3, in addition to the establishment of two lines to transport butane and a line to transport diesel, with a total cost of $450 million.
Gas Reserves:
Egypt’s astonishing gas renaissance, estimating there is 61tn ft³ of gas reserves in existing fields with another 45tn ft³ waiting to be found.
WHY EGYPT?
76 new upstream exploration concession agreements signed with major IOCs $15.3 billion. $27.3 billion investments across Zohr, North Alexandria and Noras.
9 refining projects with investments $8.1 billion up to 2020 with refining capacity of 41 million tons. Ongoing petrochemical investments: MOPCO $1.96 billion, ETHYDCO $1.9 billion, planned projects $226 billion.
Mandated creation of a new independent gas regulator with regulated gas transmission codes and tariffs. Approved new gas law paving the way for further reforms across the gas sector.
Access to Gulf of Suez and Alexandria world class refining centres and the opportunity of linking the Delta region to Upper Egypt.
76 new upstream exploration concession agreements signed with major IOCs $15.3 billion. $27.3 billion investments across Zohr, North Alexandria and Noras.
9 refining projects with investments $8.1 billion up to 2020 with refining capacity of 41 million tons. Ongoing petrochemical investments: MOPCO $1.96 billion, ETHYDCO $1.9 billion, planned projects $226 billion.
Mandated creation of a new independent gas regulator with regulated gas transmission codes and tariffs. Approved new gas law paving the way for further reforms across the gas sector.
Access to Gulf of Suez and Alexandria world class refining centres and the opportunity of linking the Delta region to Upper Egypt.
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