Egypt Oil And Gas Upstream Market Size (2024 - 2029)

The Egypt oil and gas upstream market is anticipated to experience growth in its market size over the forecast period, driven by supportive government policies and increased production rates. The market has attracted significant interest from international investors, contributing to its expansion. Despite potential challenges posed by the global shift towards renewable energy sources, recent discoveries of oil and gas reserves have opened new opportunities for market growth. These discoveries, including numerous wells in key regions, have bolstered Egypt's energy reserves, enhancing its position as a net exporter of petroleum.

Home Market Analysis Energy & Power Research Oil and Gas Research Upstream Research Egypt Oil And Gas Upstream Market Market Size

Market Size of Egypt Oil And Gas Upstream Industry

Egypt Oil And Gas Upstream Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR (2024 - 2029) 1.52 %
Market Concentration Medium

Major Players

Egypt Oil And Gas Upstream Market Major Players

*Disclaimer: Major Players sorted in no particular order

Egypt Oil And Gas Upstream Market Analysis

The Egypt Oil And Gas Upstream Market size in terms of production volume is expected to grow from 659.88 Thousand barrels per day in 2024 to 711.66 Thousand barrels per day by 2029, at a CAGR of 1.52% during the forecast period (2024-2029).

  • Over the medium term, the Egyptian oil and gas upstream market has witnessed robust growth, primarily due to favorable government policies, a high production rate in the country, and growing interest from international companies to invest in the market.
  • On the other hand, global inclination toward renewable fuels may also adversely affect oil and gas demand in national and international markets, as the country is a net exporter of petroleum.
  • Nevertheless, the new oil and gas discoveries in the country that occurred in the recent past created ample opportunities for the production market. Egypt has witnessed a spike in its energy reserves in 2022, with 53 new oil and gas discoveries, according to the Ministry of Petroleum and Mineral Resources. The discoveries include 42 oil wells and 11 gas wells in the Western Desert, the Mediterranean Sea, the Suez Gulf, and Nile Delta. The latest gas discovery in the Nargis block occurred in the year 2022. According to various third-party sources, it is estimated that the gas discovery to have 3.5 trillion cubic feet of natural gas reserves.

Egypt Oil And Gas Upstream Industry Segmentation

Upstream refers to the exploration and production stages of the oil and gas industry. From the preliminary exploration stage through extraction, the upstream sector of the oil and gas industry focuses on all steps involved.

Egypt oil and gas upstream market is segmented by location of deployment and product. By location of deployment, the market is segmented into onshore and offshore. By product, the market is segmented into oil, natural gas and other products. For each segment, the market sizing and forecasts have been done based on production volume. 

Location
Onshore
Offshore
Product
Crude Oil
Natural Gas
Other Products
Need A Different Region Or Segment?
Customize Now

Egypt Oil And Gas Upstream Market Size Summary

The Egyptian oil and gas upstream market is poised for growth over the forecast period, driven by favorable government policies and significant interest from international investors. The country's strategic position as a net exporter of petroleum, coupled with recent discoveries of new oil and gas reserves, has created substantial opportunities for expansion. The Ministry of Petroleum and Mineral Resources has reported numerous discoveries, including significant finds in the Western Desert, Mediterranean Sea, Suez Gulf, and Nile Delta, which are expected to bolster production capabilities. Despite the global shift towards renewable energy sources, Egypt's oil and gas sector continues to attract foreign investments, supported by liberal investment policies and the presence of abundant oil and gas fields.

International companies have been instrumental in driving the growth of Egypt's petroleum industry, with numerous exploration and production agreements signed in recent years. The sector has seen a surge in exploration activities, with multiple international bids and agreements facilitating the entry of major players like ExxonMobil and Chevron. These developments, along with strategic partnerships and production sharing contracts, are anticipated to enhance production and attract further foreign investments. The market remains semi-consolidated, with key players such as BP Plc, Shell Plc, TotalEnergies SE, Eni SpA, and ExxonMobil Corp. actively participating in exploration and production activities. As a result, the Egyptian oil and gas upstream market is expected to maintain its growth trajectory, driven by both domestic and international efforts.

Explore More

Egypt Oil And Gas Upstream Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Egypt Crude Oil Production and Forecast, till 2028

    3. 1.3 Egypt Natural Gas Production and Forecast, till 2028

    4. 1.4 Recent Trends and Developments

    5. 1.5 Government Policies and Regulations

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

        1. 1.6.1.1 Increasing Investment in the Oil and Gas Sector

      2. 1.6.2 Restraints

        1. 1.6.2.1 Inclination Toward Renewable Energy

    7. 1.7 Supply Chain Analysis

    8. 1.8 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Location

      1. 2.1.1 Onshore

      2. 2.1.2 Offshore

    2. 2.2 Product

      1. 2.2.1 Crude Oil

      2. 2.2.2 Natural Gas

      3. 2.2.3 Other Products

Egypt Oil And Gas Upstream Market Size FAQs

The Egypt Oil And Gas Upstream Market size is expected to reach 659.88 thousand barrels per day in 2024 and grow at a CAGR of 1.52% to reach 711.66 thousand barrels per day by 2029.

In 2024, the Egypt Oil And Gas Upstream Market size is expected to reach 659.88 thousand barrels per day.

Egypt Oil And Gas Upstream Market Report Snapshots

Egypt Oil and Gas Upstream Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)