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Egypt Oil And Gas Market Size (2024 - 2029)

The Egypt oil and gas market is projected to experience growth over the forecast period, driven by favorable government policies and high production rates. The market's expansion is supported by international investments, which are anticipated to further stimulate growth. Despite potential challenges posed by the global shift towards renewable fuels, the sector has seen significant discoveries that are expected to enhance production and offer new business opportunities. These factors collectively contribute to the market's positive outlook.

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Market Size of Egypt Oil And Gas Industry

Egypt Oil And Gas Market Summary
Study Period 2019-2029
Base Year For Estimation 2023
Market Size (2024) USD 7.48 Billion
Market Size (2029) USD 8.68 Billion
CAGR (2024 - 2029) 3.01 %
Market Concentration Medium

Major Players

Egypt Oil And Gas Market Major Players

*Disclaimer: Major Players sorted in no particular order

Egypt Oil And Gas Market Analysis

The Egypt Oil And Gas Market size is estimated at USD 7.48 billion in 2024, and is expected to reach USD 8.68 billion by 2029, growing at a CAGR of 3.01% during the forecast period (2024-2029).

  • Over the medium term, the market witnessed robust growth primarily due to the country's favorable government policies and high production rate, and international companies are also planning to invest in the country, which is expected to drive the market.
  • On the other hand, global inclination toward renewable fuels may also adversely affect the oil and gas demand in national and international markets, as the country exports most of its petroleum.
  • Nevertheless, the oil and gas industry has made 52 discoveries, including 39 crude oil discoveries and 13 gas discoveries, in the Western Desert, the Gulf of Suez, the Mediterranean, Sinai, and the Eastern Desert. The discoveries made are expected to boost oil and gas production in the country and create ample business opportunities for the companies operating in the country's oil and gas sector.

Egypt Oil And Gas Industry Segmentation

The oil and gas industry is a sector that involves the exploration, extraction, refining, and distribution of petroleum products, natural gas, and other hydrocarbons. It encompasses a wide range of activities, including upstream activities such as exploration and production, midstream activities such as transportation and storage, and downstream activities such as refining and marketing.

Egypt's oil and gas market is segmented by sector. By sector, the market is segmented into upstream, midstream, and downstream. 

For each segment, the market sizing and forecasts have been done based on oil consumption and refined capacity (thousands of barrels per day), gas consumption (billion cubic feet per day), and CAPEX (USD).

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Egypt Oil And Gas Market Size Summary

The Egyptian oil and gas market is poised for steady growth over the forecast period, driven by favorable government policies and significant foreign investments. The country's upstream sector is particularly vibrant, with numerous exploration and production agreements in place, involving both local and international companies. These collaborations have led to substantial investments aimed at boosting production and reducing imports, thereby contributing to the national economy. Despite global shifts towards renewable energy, Egypt's oil and gas industry remains a crucial economic pillar, supported by its substantial reserves and ongoing exploration activities. The discovery of new oil and gas fields across various regions, including the Western Desert and the Mediterranean, is expected to further enhance the country's production capabilities and attract more investments.

Egypt's strategic focus on increasing natural gas exports and expanding exploration activities underscores its commitment to strengthening its oil and gas sector. The government has been proactive in awarding exploration licenses and inviting international companies to participate in bid rounds, which has resulted in significant investments in the sector. Key players such as BP, Eni, and others are actively involved in exploration and development activities, leveraging advanced technologies and substantial research and development investments. These efforts are anticipated to yield promising discoveries, supporting the growth of Egypt's oil and gas market. As the country continues to attract foreign direct investment and expand its exploration efforts, it is well-positioned to maintain its status as a leading oil and gas producer in Africa.

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Egypt Oil And Gas Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Crude Oil Consumption Forecast in thousands of barrels per day, till 2029

    3. 1.3 Natural Gas Consumption Forecast in billion cubic feet per day, till 2029

    4. 1.4 Refinery Installed Capacity and Forecast in thousand barrels per day, till 2029

    5. 1.5 Egypt Oil and Gas CAPEX market, USD , till 2029

    6. 1.6 Recent Trends and Developments

    7. 1.7 Government Policies and Regulations

    8. 1.8 Market Dynamics

      1. 1.8.1 Drivers

        1. 1.8.1.1 Increasing Investment in Oil and Gas Sector

        2. 1.8.1.2 Supportive Government Policies

      2. 1.8.2 Restraints

        1. 1.8.2.1 Inclination towards renewable energy

    9. 1.9 Supply Chain Analysis

    10. 1.10 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Upstream

    2. 2.2 Midstream

    3. 2.3 Downstream

Egypt Oil And Gas Market Size FAQs

The Egypt Oil And Gas Market size is expected to reach USD 7.48 billion in 2024 and grow at a CAGR of 3.01% to reach USD 8.68 billion by 2029.

In 2024, the Egypt Oil And Gas Market size is expected to reach USD 7.48 billion.

Egypt Oil And Gas Market Report Snapshots

Egypt Oil and Gas Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)