
Study Period | 2019 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
Market Size (2025) | USD 7.71 Billion |
Market Size (2030) | USD 8.94 Billion |
CAGR (2025 - 2030) | 3.01 % |
Market Concentration | Medium |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Egypt Oil And Gas Market Analysis
The Egypt Oil And Gas Market size is estimated at USD 7.71 billion in 2025, and is expected to reach USD 8.94 billion by 2030, at a CAGR of 3.01% during the forecast period (2025-2030).
Egypt's oil and gas sector has experienced significant expansion through new discoveries and exploration activities, strengthening its position as a regional energy hub. In 2022, the country witnessed 53 new oil and gas discoveries, comprising 42 oil wells and 11 gas wells across the Western Desert, Mediterranean Sea, Suez Gulf, and Nile Delta regions. The Egypt petroleum sector has demonstrated a strong commitment to growth by signing 108 new petroleum agreements with international companies, securing minimum investments of approximately USD 22 billion and development grants totaling USD 53.2 million for new petroleum discoveries.
The country's natural gas infrastructure and export capabilities have positioned it as a significant player in the global energy market. With proven Egypt gas reserves of 2.186 trillion cubic meters, Egypt ranks 16th globally in terms of reserves. The country's export infrastructure includes two major natural gas liquefaction plants - the IDKU Egyptian LNG plant and the Damietta plant - with combined annual capacities of 7.2 million tons and 4.8 million tons respectively, enabling substantial export capabilities.
Recent developments in 2023 highlight continued industry momentum, with several significant discoveries and expansion projects. United Oil and Gas Company announced the discovery of 12.5 meters of net oil pay at the ASD-3 development well in the Abu Sennan license, while Dana Gas revealed plans to drill 11 new wells with projected additions of up to 80 bcf of reserves and production. These developments are supported by substantial investment commitments, including the Ministry of Petroleum and Mineral Resources' announced investment of USD 2.1 billion in oil and natural gas exploration plans until 2025.
The sector's future outlook is bolstered by strategic initiatives and infrastructure developments. Egypt and Jordan's 2023 collaboration agreement allows Egypt to utilize the floating storage regasification unit at Sheikh Sabah port in Aqaba, enhancing regional energy cooperation. The Egyptian government's ambitious targets include increasing petroleum exports by 15% in 2023 and boosting LNG exports by approximately 40% starting in 2025, with a particular focus on the European market. These developments, coupled with ongoing exploration activities and infrastructure improvements, position Egypt to strengthen its role as a regional energy hub.
Egypt Oil And Gas Market Trends
Increasing Investment in the Oil and Gas Sector
The Egyptian oil and gas sector continues to attract substantial investments, driven by the country's strategic location and significant hydrocarbon reserves. According to the Energy Institute Statistical Review of World Energy 2023, Egypt achieved a natural gas production of 64.5 billion cubic meters in 2022, positioning it as one of Africa's largest natural gas producers. The government's ambitious target of USD 7 billion in direct foreign investment (FDI) for the oil and gas sector in fiscal year 2023 demonstrates its commitment to sector growth. This investment-friendly environment is further evidenced by the Ministry of Petroleum and Mineral Resources' announcement in December 2022 of a USD 2.1 billion investment plan for Egyptian oil and gas exploration until 2025, specifically targeting developments in the Mediterranean Sea in partnership with major international companies.
The sector's investment attractiveness is reinforced by recent successful exploration activities and discoveries. In 2022, Egypt witnessed 53 new oil and gas discoveries, comprising 42 oil wells and 11 gas wells across the Western Desert, Mediterranean Sea, Suez Gulf, and Nile Delta regions. The Egyptian Natural Gas Holding Company (EGAS) has actively promoted investment opportunities through its 2022 bid round, offering 12 exploration blocks in the Mediterranean Sea and Nile Delta, including six offshore and six onshore regions. International participation in the sector remains robust, with more than 60 Egyptian oil and gas companies operating in 183 areas across various regions. Recent developments include significant agreements with major industry players, such as the January 2022 award of eight exploration blocks across 12,300 sq km to companies including Eni, BP, Apex International, and Energean Egypt, with a minimum investment commitment of USD 250 million and plans to drill at least 33 exploration wells. This highlights the dynamic nature of the oil and gas market in Egypt, driven by strategic partnerships and technological advancements.
Segment Analysis: By Sector
Upstream Segment in Egypt Oil and Gas Market
The upstream segment dominates the Egypt oil and gas market, driven by extensive exploration and production activities across the Western Desert, Mediterranean Sea, Nile Delta, and Gulf of Suez regions. The segment's prominence is evidenced by the presence of over 60 international companies operating across 164 areas in these regions. Major developments supporting the segment's leadership include the recent discovery of 53 new oil and gas wells in 2022, comprising 42 oil wells and 11 gas wells. The segment has attracted significant investments, with the Ministry of Petroleum and Mineral Resources announcing a total investment of USD 2.1 billion in oil and natural gas exploration plans until 2025. The robust growth is further supported by increasing rig counts, with 34 active oil and gas rigs recorded as of May 2023, including 29 land rigs and 5 offshore rigs. Additionally, the segment's strength is reinforced by recent successful exploration activities, including discoveries in the Nargis block with estimated reserves of 3.5 trillion cubic feet of natural gas.
Remaining Segments in Egypt Oil and Gas Market
The midstream and downstream segments play crucial complementary roles in Egypt's oil & gas industry. The midstream segment encompasses strategic infrastructure, including the Suez Canal, the Suez-Mediterranean (SUMED) pipeline, and significant storage facilities at Ain Sukhna and Sidi Kerir terminals, along with LNG processing facilities. The downstream segment features eight refineries and a growing petrochemical sector, with the government implementing ambitious expansion plans, including the modernization of existing refineries and development of new petrochemical complexes. These segments are witnessing substantial developments through projects like the planned crude oil storage facility in El-Tebbin and various petrochemical projects under development, including the Alamein Petrochemicals Complex and the Suez Oil Refining and Petrochemicals Complex.
Egypt Oil And Gas Industry Overview
Top Companies in Egypt Oil and Gas Market
The Egyptian oil and gas companies market features prominent international players like TotalEnergies SE, ENI SPA, Apache, ExxonMobil Corp, alongside the state-owned Egyptian General Petroleum Corporation. These Egyptian oil and gas companies demonstrate a strong market presence through continuous product innovation, particularly in exploration and production technologies for both offshore and onshore operations. The industry witnesses strategic collaborations and joint ventures to enhance operational capabilities and market reach, exemplified by recent partnerships between major players for exploration blocks and distribution networks. Companies are increasingly focusing on digital transformation and sustainability initiatives, implementing advanced technologies for operational efficiency and environmental compliance. The market also sees significant expansion through new exploration licenses, modernization of existing facilities, and development of integrated energy projects, reflecting the industry's dynamic nature and growth potential.
International Players Dominate Egyptian Energy Landscape
The Egyptian oil and gas market exhibits a structure dominated by large international energy conglomerates working alongside state-owned enterprises, creating a balanced ecosystem of public-private partnerships. These major players leverage their global expertise and technological capabilities to develop Egypt's substantial hydrocarbon resources, particularly in the Mediterranean Sea and Western Desert regions. The market demonstrates moderate consolidation with a mix of established international oil companies and emerging regional players, while maintaining competitive dynamics through regular bidding rounds and exploration agreements.
Recent market activities indicate an active merger and acquisition landscape, with strategic partnerships and asset acquisitions shaping the competitive environment. Notable transactions include ADNOC Distribution's acquisition of stakes in TotalEnergies Egypt and various exploration block acquisitions by major international players. The industry continues to attract new investments through licensing rounds and partnership opportunities, while existing players strengthen their positions through strategic collaborations and operational expansions, particularly in the upstream and downstream sectors.
Innovation and Sustainability Drive Future Growth
Success in the Egyptian oil and gas industry increasingly depends on companies' ability to integrate technological innovation with sustainable practices while maintaining operational excellence. Market incumbents are focusing on enhancing their competitive position through digital transformation initiatives, modernization of infrastructure, and development of integrated energy solutions. Companies are also prioritizing environmental compliance and emissions reduction strategies, as demonstrated by various flaring reduction programs and clean energy initiatives, while maintaining strong relationships with government stakeholders and local communities.
For new entrants and expanding players, success factors include developing strong local partnerships, investing in advanced exploration and production technologies, and maintaining flexible operational strategies to adapt to market dynamics. The industry faces moderate substitution risk from renewable energy alternatives, though oil and gas remain critical to Egypt's energy security and economic development. Regulatory frameworks continue to evolve, with increasing emphasis on environmental protection and local content requirements, while end-user concentration remains diverse across industrial, commercial, and residential sectors. Companies that can effectively balance these factors while maintaining cost competitiveness and operational efficiency are likely to succeed in this dynamic market environment.
Egypt Oil And Gas Market Leaders
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Eni SpA
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BP PLC
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Shell PLC
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Total Energies SE
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ExxonMobil Corporation
- *Disclaimer: Major Players sorted in no particular order

Egypt Oil And Gas Market News
- June 2023: United Oil and Gas Company (UOG) reported the discovery of a total of 12.5 meters of net oil pay during testing of the ASD-3 development well in the Abu Sennan license onshore Egypt. This included 3 meters of net pay in the Abu Roash C reservoir (AR-C) and 9.5 meters of net pay in the Abu Roash E (AR-E) reservoir across the primary Abu Roash reservoir.
- May 2023: Dana Gas, a UAE-based energy firm, unveiled its plans to commence drilling 11 new wells in Egypt by the year-end. The projected outcome of these wells is an addition of up to 80 bcf (billion cubic feet) of reserves and production. Dana Gas has earmarked approximately USD 100 million for these drilling activities. Notably, the company holds four concessions in Egypt and is actively pursuing its consolidation into a single concession. This initiative is currently pending approval by the House of Representatives.
Egypt Oil And Gas Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Crude Oil Consumption Forecast in thousands of barrels per day, till 2029
- 4.3 Natural Gas Consumption Forecast in billion cubic feet per day, till 2029
- 4.4 Refinery Installed Capacity and Forecast in thousand barrels per day, till 2029
- 4.5 Egypt Oil and Gas CAPEX market, USD , till 2029
- 4.6 Recent Trends and Developments
- 4.7 Government Policies and Regulations
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4.8 Market Dynamics
- 4.8.1 Drivers
- 4.8.1.1 Increasing Investment in Oil and Gas Sector
- 4.8.1.2 Supportive Government Policies
- 4.8.2 Restraints
- 4.8.2.1 Inclination towards renewable energy
- 4.9 Supply Chain Analysis
- 4.10 PESTLE Analysis
5. MARKET SEGMENTATION
- 5.1 Upstream
- 5.2 Midstream
- 5.3 Downstream
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
- 6.3.1 BP PLC
- 6.3.2 Shell PLC
- 6.3.3 ExxonMobil Corporation
- 6.3.4 EniSpA
- 6.3.5 Total Energies SE
- 6.3.6 Energean plc
- 6.3.7 INA-INDUSTRIJA NAFTE DD
- 6.3.8 IPR Energy Group
- 6.3.9 Apache Corporation
- 6.3.10 Egyptian General Petroleum Corporation
- *List Not Exhaustive
- 6.4 Market Ranking/Share Analysis
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 New Discoveries in Oil and Gas sector
Egypt Oil And Gas Industry Segmentation
The oil and gas industry is a sector that involves the exploration, extraction, refining, and distribution of petroleum products, natural gas, and other hydrocarbons. It encompasses a wide range of activities, including upstream activities such as exploration and production, midstream activities such as transportation and storage, and downstream activities such as refining and marketing.
Egypt's oil and gas market is segmented by sector. By sector, the market is segmented into upstream, midstream, and downstream.
For each segment, the market sizing and forecasts have been done based on oil consumption and refined capacity (thousands of barrels per day), gas consumption (billion cubic feet per day), and CAPEX (USD).
Egypt Oil And Gas Market Research Faqs
How big is the Egypt Oil And Gas Market?
The Egypt Oil And Gas Market size is expected to reach USD 7.71 billion in 2025 and grow at a CAGR of 3.01% to reach USD 8.94 billion by 2030.
What is the current Egypt Oil And Gas Market size?
In 2025, the Egypt Oil And Gas Market size is expected to reach USD 7.71 billion.
Who are the key players in Egypt Oil And Gas Market?
Eni SpA, BP PLC, Shell PLC, Total Energies SE and ExxonMobil Corporation are the major companies operating in the Egypt Oil And Gas Market.
What years does this Egypt Oil And Gas Market cover, and what was the market size in 2024?
In 2024, the Egypt Oil And Gas Market size was estimated at USD 7.48 billion. The report covers the Egypt Oil And Gas Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Egypt Oil And Gas Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Egypt Oil And Gas Market Research
Mordor Intelligence delivers a comprehensive analysis of the oil and gas industry in Egypt. We leverage our extensive expertise in gas industry research and consulting. Our detailed examination of the Egypt oil and gas market provides crucial insights into the evolving landscape of petroleum companies Egypt. This includes both established players and emerging entities. The report thoroughly analyzes the oil and gas market size and industry dynamics. It focuses particularly on Egyptian oil company operations and their impact on regional development.
Stakeholders across the oil and gas sectors benefit from our in-depth assessment of market dynamics and growth opportunities. The report, available as an easy-to-download PDF, covers crucial aspects of the oil and gas industry size in Egypt. This includes exploration activities, production capabilities, and regulatory frameworks. Our analysis encompasses oil and gas companies in Egypt, providing valuable insights for investors, operators, and policymakers involved in the region's energy sector. The comprehensive coverage includes a detailed evaluation of Egypt offshore oil and gas operations and their contribution to the national economy.