RESEARCH & ANALYSIS
PURSUING EGYPT’S
PETROLEUM PRODUCTION
OVER FY (2010/11-2018/1
BY AMINA HUSSIEN, REHAM GAMAL AND TASNEEM MADI
E
gypt is a hydrocarbon production pioneer, as it is one of the oldest energy producers in the Middle East and North Africa (MENA) region. H oil in 1910, Egypt has now become the largest crude oil producer in the African continent that is not part of the Organization of the Petrol (OPEC), according to the Energy Information Administration’s (EIA) Country Analysis Brief: Egypt 2018. In addition, the African country is also Organization of Arab Petroleum Exporting Countries (OAPEC) since 1973. As Egypt is known for its significant natural gas discoveries, equivalent gas represents the largest production in the oil and gas sector in Egypt. In fact, in terms of petroleum production in Egypt, natural gas represents 58.6% of the total petroleum production, while crude oil represents 35.7%, and condensates 5.7%, according to the data 5.7% by Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Condensates Holding Company (EGAS).
PETROLEUM PRODUCTION OVER FY (2010/11-2018/19) The Egyptian petroleum production from Fiscal Year (FY) (2010/11- 2018/19) reached a total of 5,282 million barrels (mmbbl). This production reached its peak in 35.7% Crude Oil FY 2018/19, with approximately 658 mmbbl. On the other hand, production reached its lowest level of 514 mmbbl in FY 2015/16, which was mainly a result of the decrease in natural gas production levels the same year, according to the data by EGPC and EGAS.
18 | EGYPT OIL & GAS NEWSPAPER
Total Petroleum Production FY (2010/11-2018/19)
58.6%
Equivalent Gas