Is Egypt’s Oil And Gas Sector Set To Boom? - OILPRICE.com

Nov 06, 2021, 10:00 AM CDT
Felicity Bradstock

• Italian oil major, Eni, announced this week that it has made three new oil and gas discoveries in the Meleiha region of western Egypt.
• The new discovery further adds to Egypt’s recent announcement that it expects to become self-sufficient in oil by as early as 2023.
• Eni’s finds are just the latest in several significant oil and gas discoveries over the last decade.

As Eni makes a new oil and gas discovery in Western Egypt, the future of energy in the oil-rich nation looks promising. After record production figures were hit in September for the first time since 1957, with an output of 65,000 bpd, as well as plans for new refineries and high levels of LNG production, Egypt looks set to not only become self-sufficient in energy but also to become a major exporter.

Next exploration round will determine the speed and way of hydrocarbon exploitation, Minister says - CYPRUS MAIL

November 5, 2021

The next natural gas exploration round as well as the hydrocarbon quantities located will determine the speed and the exploitation of the hydrocarbon reserves in Cyprus’ Exclusive Economic Zone (EEZ), Minister of Energy, Commerce and Industry Natasa Pilides has said.

Addressing the 9th Energy Symposium in Nicosia, Pilides also expressed the view that natural gas should remain a transitory fuel as the EU progresses to the green transition despite views expressed that this should be banned from the energy mix.

“The next exploration round, which is expected to begin with the drilling by ExxonMobil and Qatar Petroleum in block 10, is something we eagerly await with high expectations, because surely the hydrocarbon quantities in our offshore blocks will determine to a large extent the speed and the way of exploitation of the hydrocarbons in the Cypriot EEZ,” Pilides said.