Egypt has 7 refinery upgrading projects ongoing with a total investment of $8.6 billion.
28 new blocks for oil and gas exploration to international companies through six bid rounds over the past four years. Exploration area is 10,000 km2, and minimum investments are $326 million.
Egypt announced 55 discoveries in 2019, of which 40 were crude oil discoveries and 15 were natural gas discoveries.
$22 billion invested in the downstream, refining and petrochemicals domains.
Reforms:Leadership Achievements - Sector Level
True to Egypt’s pioneering legacy, as the originator of the East Mediterranean Gas Forum, January 2020 saw the founding members initialise the EMGF statute. This further cemented Egypt’s leadership position in building a coalition of interdependent societies, establishing a partnership with the European Union, and forging a more prosperous and consciously sustainable energy future for the Eastern Mediterranean region
Storage Capacity: The following projects were completed during 2019
SUMED established diesel storage facilities and handling imported petroleum products with a total capacity of 105,000 m3 in Ain Sokhna port, with a total cost of the two-stage project of about $415 million.
Sonker’s bulk-liquids terminal in Ain Sokhna with a total capacity of 250,000 m3, in addition to the establishment of two lines to transport butane and a line to transport diesel, with a total cost of $450 million.
Egypt’s astonishing gas renaissance, estimating there is 61tn ft³ of gas reserves in existing fields with another 45tn ft³ waiting to be found.