Egypt’s crude output is recovering since plumbing a 35-year low in early 2016. It hit a 10-month high 645,000 b/d in May. Increased activity by oil majors in the country’s Western Desert could see output rise further.
The main focus of Egypt’s upstream in recent years has been its gas output, which rose to 6bn cfd in June, a six-and-a-half year high (MEES, 13 July). Crude output on the other hand fell to a 35-year low in March last year but has since rebounded, posting a 10-month high 645,000 b/d in May.
Egypt’s Petroleum Ministry is targeting oil output of 700,000 b/d by end-2017. Longer term it hopes a recently-launched bid round will provide a boost (MEES, 25 May).
The key blocks on offer are in the Western Desert. Since 2011 the Gulf of Suez has seen its importance wane. It has been overtaken by...