- Hydrocarbons play a sizeable role in Egypt’s economy both from oil and natural gas production and also in terms of revenues from the Suez Canal, an important transit point for oil shipments out of the Persian Gulf.
- Total oil production, however, has declined since the country’s 1996 peak of close to 935,000 barrels per day (bbl/d) to current levels of about 660,000 bbl/d.
- Egypt’s consumption is slightly higher than production and the country has begun to rely on a small volume of imports to meet domestic demand. Egypt also has the largest oil refining sector in Africa and since refining capacity now exceeds domestic demand, some non-Egyptian crudes are currently imported for processing and re-export.
- 1910 - Production started from Gamasah oil field
- 1913 - El-Nasr refinery commissioned
- 1956 - The Petroleum Affairs General Organization was set up
- 1961 - The first offshore oil field in Egypt and the Middle East was discovered "North Balae'm
- 1965 - Al Morgan oil field discovered
- 1969 - Cairo Oil Refinery was commissioned
- 1972 - Al Amria Oil Refinery completed
- 1973 - Tanta Oil Refinery started production
- 1976 - Sumed pipeline operations started
- 1976 - The law 20 was issued to establish the Egyptian General Petroleum Corporation
- 1994 - Gulf gas project was set up
- 1995 - The project of the gas field "WCAR" was started
- 1997 - Production stated from Meliha, Bani Sueif & Burg AL Arab fields
- 1998 - agreement for natural gas sale from Al Temsah fields
- 2004 - Segas LNG Terminal commissioned
- 2005 - Egyptian LNG came on stream
- The Egyptian General Petroleum Corporation (EGPC), the national oil company, is charged with managing upstream and downstream activities.
- EGPC places Egypt’s official oil reserve estimate lower at 4 billion barrels, of which 2.8 billion barrels is crude oil and 1.2 billion barrels is condensate
- As of January 1, 2014, Egypt holds 77 trillion cubic feet (Tcf) of proved natural gas reserves, an increase from the 2010 estimate of almost 59 Tcf and the fourth-largest amount in Africa, after Nigeria, Algeria, and Mozambique.
- New discoveries are made almost every year, particularly in the deepwater Mediterranean Sea, the Nile Delta, and the Western Desert.
- For further information, see Exploration and Production in Egypt
- BP, Eni, BG, and Apache are the major oil and gas players in Egypt, with the first three primarily invested offshore and Apache in the onshore Western Desert
- Egypt’s main oil grades are Suez, Belayim, and Western Desert.
- The Suez Blend Crude Oil comes from declining offshore fields in the Gulf of Suez, operated by The Gulf of Suez Petroleum Co. (Gupco), a joint venture (JV) between BP and EGPC.
- The Belayim Blend is sourced from aging oil fields in the Gulf of Suez operated by the Belayim Petroleum Co. (Petrobel), a JV between Eni and EGPC.
- Most of the Suez and Belayim Blend crudes are refined domestically, with only a small volume of these grades destined for exports. Both blends are usually sold at a discount to the Brent contract because of their relatively high sulfur content.
- The Western Desert Blend is a light, relatively sweet grade crude with a high wax content that is sourced from oil fields in the Western Desert.
- The Sumed Oil Pipeline is one of the world's critical transit routes
- It bypasses the Suez Canal
- Egypt has two LNG plants with a combined nameplate (or design) capacity of around 610 Bcf per year (or 12.7 million tons per year).
- The Spanish-Egyptian Gas Company (Segas) LNG plant in Damietta started production in late-2004. The plant is owned by Union Fenosa Gas (80%), a joint venture between Spain’s Gas Natural and Italy’s Eni, along with Egypt’s national companies EGPC and EGAS (20%).
- The LNG plant has one train with a nameplate capacity of 264 Bcf per year, although it has not been operational for more than a year because of a lack of natural gas supplies.
- In 2013, Egypt exported 135 Bcf of LNG, all of which was exported from Egypt’s second LNG plant, the Egyptian LNG (ELNG).
- Egypt has Africa's largest refining capacity. Egypt’s refineries mostly process domestically produced crude oil, and refined products are mostly sold to local markets. The refineries are operated by EGPC subsidiaries.
|Refinery operator||Location||Nameplate capacity (barrels per day)|
|El-Nasr Petroleum Co.||El Suez||100,000|
|Cairo Petroleum Refining Co.||Mostorod (Cairo)||142,000|
|Alexandria Petroleum Co.||Alexandria (El-Mex)||115,000|
|Middle East Oil Refinery||Alexandria (Sidi Kerir)||100,000|
|Ameriya Petroleum Refining Co.||Alexandria||75,000|
|Suez Petroleum Processing Co.||El Suez||68,000|
|Assiut Petroleum Refining Co.||Assiut||50,000|
|Cairo Petroleum Refining Co.||Tanta||54,000|