Is Egypt’s upstream glass half full or half empty? That depends on where you look. Offshore Mediterranean gas output looks set to go from strength, despite a wobbly first half of 2020 as enforced shut ins led key investors to question their commitment (MEES, 10 April 2020).
With shut-ins reversed late in the year amid buoyant global LNG demand (MEES, 30 October 2020), Mediterranean production rebounded strongly, to a record 4.64bn cfd for December. And 2021 got off with a bang as all of the key global finalized terms for new exploration acreage (MEES, 8 January). (CONTINUED - 1608 WORDS)