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
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
