Mostafa Madbouly, prime minister of Egypt at the 2024 Doha Forum
Egypt looks to arrest its upstream decline
Gas production slumped to an eight-year low in 2024, but new discoveries and partnership with Cyprus paint a more positive outlook
Egypt’s oil and gas output will likely have to wait another two years to see gains despite a host of recent offshore discoveries and cross-border agreements intended to transform the country into a regional gas hub. Domestic gas production fell by almost 16% year-on-year in 2024 and has declined by just shy of 30% since 2021, according to figures from industry data provider Joint Organisations Data Initiative. By comparison, crude slipped by 4.6% year-on-year in 2024 and has dropped by 3.9% over the past four years. 16% – Fall in Egyptian gas production in 2024 “During the weekly press conference with the prime minister in October, the petroleum minister addressed the challenges face
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