Egypt’s oil output finally saw a rebound last year, albeit a modest increase to 568,000 b/d, after bottoming out at 560,000 b/d in 2021 as key firms ramped up activity and spending following improved contract deals signed with Cairo over the last two years (see chart 1).
Egypt Oil Output Turns A Corner With Apache Drilling At 8-Year High
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Charts
1: Egypt's Oil Output Edged Up From 2021's Multi Decade Low For 2022 ('000 b/d)
2: Apache Egypt* Capex, Rig Count And Drilling All Leapt In The Second Half Of 2022 To Stand At The Highest Levels Since Early 2015
3: Apache Egypt Gross Oil & Gas Output Rebounded For Q4 And While Oil Will Likely Continue Its Upward Trajectory Going Into 2023, Gas Is Due To Continue Decline
4: Apache Spending And Activity Is Set To Remain High In 2023 ('000 b/d)
5: Capricorn/Cheiron Western Desert Jv Arrests Oil Decline For 2022 But Falling Gas Output Sees 2022 Overall Output Slump To 68,000 boe/d
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