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11-13 February 2020 Egypt International Exhibition Center
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PIVOTING TO A BRIGHTER FUTURE: EXECUTING THE SECTOR’S ROAD MAP Under the auspices of the President of the Arab Republic of Egypt, His Excellency Abdel Fattah El Sisi, the fourth edition of the most prominent oil and gas conference in the region is taking place. With a plethora of investment opportunities, the Egypt Petroleum Show (EGYPS) is once again positioned to play a pivotal role in showcasing Egypt’s aspirations to become a regional energy trading hub. The global energy landscape is rapidly changing and Egypt is showing no signs of slowing the pace of their growth aspirations. While Egypt has a clear roadmap to turn into a regional energy hub, the Ministry of Petroleum and Mineral Resources is sparing no effort to develop the oil and gas sector. Accordingly, many breakthroughs were witnessed in record time throughout 2019. Under the umbrella of the Modernisation Project, accomplishing such successes have encouraged major international oil companies (IOCs) to continue their current business activities in Egypt and further strive to pump new investments into the country and sector. Last year, Egypt succeeded in making 55 new petroleum discoveries; with 40 crude oil and 15 natural gas discoveries in the Mediterranean, the Eastern Desert, the Western Desert, the Gulf of Suez, the Nile Delta, and Sinai.
IOCs, provides them with an opportunity to acquire required soft skills, hard skills, business skills, leadership skills, and expertise. This will play a major role in generating more conscious leaders, which will be reflected positively on the future, enabling the sector to achieve all of its targets and visions. It is important to note that these programmes are considered to be ongoing, as they come in line with the ministry’s goal of achieving sustainability. For that purpose, the ministry is looking forward to signing several memoranda of understanding (MoUs) during 2020. Egypt’s leading role as a regional energy hub will benefit all countries in the region. Egypt’s chief role will be an essential pillar for cooperation among countries and it will contribute to achieving economic benefits. With its investment climate, continuous upstream exploration and innovative downstream diversification, in addition to numerous discoveries, improved infrastructure and facilities, the Egyptian state is executing its active vision and goal to transform into a regional oil and gas hub.
In 2019, the oil and gas sector achieved the highest production rate of crude oil, natural gas, and condensates by reaching around 1.9 million barrels per day (mmbbl/d). Natural gas production in particular boomed, touching an unparalleled level of around 7.2 billion cubic feet per day (bcf/d). As a result, the oil and gas sector reached self-sufficiency in natural gas production. The sector is currently leveraging its digital transformation and its great impact on enhancing its health, safety, and environment (HSE) standards for better levels of safety, which comes in line with the ministry’s Modernisation Project. In addition, Egypt has recently established an E-Gate project to market its petroleum areas and exploration, which is in line with global trends supporting digital transformation as well as introducing investment opportunities for IOCs to search for and develop oil. Meanwhile, the ministry continues to implement its ever-evolving Modernisation Project, preparing the sector’s middle management and youth through initiating several programmes to help them become future leaders. One of the most remarkable drivers in the sector is the Middle Management Programme, which was designed in accordance with IOCs. Executing such beneficial training programmes for young professionals, in collaboration with
THERE IS NO DOUBT THAT YEAR-ONYEAR PARTICIPATION WITHIN EGYPS HAS INCREASED AND THAT REFLECTS THE GROWING IMPORTANCE AND POSITION OF EGYPT AND THE GLOBAL INTEREST WE ARE ATTRACTING. WE ARE ON THE RIGHT TRACK AND REMAIN CONFIDENT TO UNLOCK OUR OIL AND GAS POTENTIAL, AS A RESULT OF THE DISTINCTIVE WORK BEING ACHIEVED BY THE MODERNISATION PROJECT. HIS EXCELLENCY TAREK EL MOLLA MINISTER OF PETROLEUM AND MINERAL RESOURCES ARAB REPUBLIC OF EGYPT OFFICIAL PUBLICATIONS
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