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
Also in this section
11 April 2025
The Gulf state’s offer to supply electricity-starved Syria is an opportunity to support a key ally, but Doha’s ambitions to build broader pipeline networks to Turkey and Europe face challenges
11 April 2025
As the global economy grows, demand for materials is expected to increase. The way materials are made could incorporate new technologies in the future to ensure economic growth is more sustainable
10 April 2025
Technology, policy and narrative are the three biggest factors that could change the course of our 2050 outlook
10 April 2025
Latin America’s largest economy expects big uptick in crude this year with the imminent arrival of several FPSOs
