Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Israel-Iran war imperils Egypt’s energy supply
Egypt’s government was already preparing for potential energy shortages this summer, and the loss of Israeli gas supply has made things worse
UK-listed Pharos to ramp up Egyptian activities
Cairo’s currency problems have hindered investment, but Pharos sees considerable potential as Egypt emerges from crisis
Energean maps out East Med plans
The independent is developing fields off the coasts of Israel and Egypt
International firms compete for Uruguayan blocks
The country’s frontier upstream continues to attract interest
Mozambique upstream progress defies unrest
The east African country continues to attract investment in oil and gas projects, but concerns over security are still impeding developments in the gas-rich north
Energy costs hit European refining
Margins narrowed considerably in the third quarter but still remain elevated for the time of year, as the continent continues to adapt following Russia’s invasion of Ukraine
QatarEnergy’s INOC paradox
The state-owned LNG heavyweight is adamant that it is a purely commercial enterprise, but the evidence is conflicting
Turkey reignites East Med boundary dispute
A new deal heats up simmering clash over exploration rights
Woodside sees long-term future for LNG
CEO Meg O’Neill is positive about the prospects for gas as the energy transition gathers pace
Oman’s upstream aims to rock like its peers
Don’t call it a comeback, newly gas-focused majors have been here for years
Egypt BP Shell
Chris Stephen
Cairo
28 February 2019
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Egypt lures in IOCs

The cornerstone of the country's energy reforms aims to tempt foreign firms wary of setting foot in the Egyptian market

The crux of Egypt's ambitious energy reform has been a better deal for upstream international oil companies (IOCs). Stung by the failure of exploration rounds in 2012 and 2013, Cairo has guaranteed a higher minimum price for offshore producers. The old minimum price of $2.73/mn Btu has been replaced by $3.95/mn Btu to give IOCs a stronger incentive to invest. The pricing hike, and other liberalisations, have seen a surge in exploration, led by the four IOCs that already dominate Egyptian production. Eni, flush from finding the 30tn ft³ Zohr field in 2015 last summer surveyed another field, Nour, 31 miles off Suez, although both the company and the Egyptian government are tight-lipped about r

Also in this section
Trump’s Russia threat rings hollow
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
US oil sector faces complicated path
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand
Brazil looks to solve its energy security travails
24 July 2025
Despite significant crude projections over the next five years, Latin America’s largest economy could be forced to start importing unless action is taken
India ready for turbulent times
23 July 2025
The country’s energy minister explains in an exclusive interview how the country is taking a pragmatic and far-sighted approach to energy security and why he has great confidence in its oil sector

Share PDF with colleagues

Rich Text Editor, message-text
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Rich Text Editor, txt-link-message
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search

  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search