{"id":661089,"date":"2025-02-23T00:00:00","date_gmt":"2025-02-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/23\/egypts-gas-production-hits-eight-year-low-at-4-87-bcf-d\/"},"modified":"2025-02-23T00:00:00","modified_gmt":"2025-02-23T00:00:00","slug":"egypts-gas-production-hits-eight-year-low-at-4-87-bcf-d","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/23\/egypts-gas-production-hits-eight-year-low-at-4-87-bcf-d\/","title":{"rendered":"Egypt\u2019s gas production hits eight-year low at 4.87 bcf\/d"},"content":{"rendered":"

Local <\/strong>gas production dipped to an eight-year low of <\/strong>4.87<\/strong> bn<\/strong> cubic feet per day <\/strong>(bcf\/d) in 2024<\/strong>, shedding 16%, or nearly 1 bcf\/d, y-o-y, the Middle East Economic Survey (MEES) said in a report<\/a> citing Oil Ministry data. This marks the third consecutive year of declines. Meanwhile, separate figures from the Joint Organisations Data Initiative (Jodi)<\/a> indicate an even lower figure of 4.77 bcf\/d.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

ALSO- The country\u2019s crude oil production hit its lowest level since the late 1970s<\/strong>, dropping 3% y-o-y to 476k barrels per day (bbl\/d). Condensate production dropped 18% y-o-y to 71.5k b\/d, another multi-decade low.<\/p>\n

Mediterranean gas output leads the decline: <\/strong>The offshore Mediterranean remains Egypt\u2019s primary gas-producing region, but its output has been declining at a faster pace than the national average. Production in the region fell 18%, or 773 mcf\/d, y-o-y to a six-year low of around 3.54 bcf\/d. Notably, the region's share of total national gas output dropped to 72.8%, down from over 74% in 2023.<\/p>\n

It doesn\u2019t look like it will get better in the short term:<\/strong> Egypt is in for \u201ctwo tough years,\u201d an unnamed Oil Ministry official told MEES<\/a> on the sidelines of the Egypt Energy Show last week. Egypt is expected to struggle to offset its gas production declines over the next two years, with domestic output expected to remain well below past highs despite ongoing development efforts. While offshore drilling and tie-ins at key fields are aimed at slowing the decline, output is unlikely to rise before 2027. MEES sees Egypt continuing to import gas from Israel \u2014 which hit a record 1.07 bcf\/d in January \u2014 and costly LNG to bridge the growing gap.<\/p>\n

It\u2019s not just MEES with this outlook: <\/strong>Local analysts expect Egypt's energy deficit to persist through FY 2024-2025 and FY 2025-2026 as lower gas production struggles to meet rising local demand, Morgan Stanley said in a research note seen by EnterpriseAM earlier this month<\/a>. However, a series of policy measures could help reverse the trend, including clearing arrears owed to foreign energy companies, providing incentives for investment in explorations and new fields, and increasing the share of renewables in power generation. These efforts have fueled optimism that Egypt could return to being a net LNG exporter by 2027.<\/p>\n

New developments in the pipeline won\u2019t be enough:<\/strong> The report says that while Egypt is hoping that a handful of new gas developments could prevent further declines, the numbers suggest they won\u2019t be enough to reverse the downward trend in production.<\/p>\n

2027 outlook hinges on major discoveries:<\/strong> Egypt\u2019s best hope for reversing the production decline lies in the Nargis and Nour fields, which are expected to come online in 2027 with a combined 500 mcf\/d. Additionally, BP\u2019s El King project, which is expected to yield 200 mcf\/d, is set to launch in early 2027, and Egyptian officials are pegging long-term hopes on ExxonMobil\u2019s Nefertari discovery<\/a>, which holds 3-4 tcf of reserves.<\/p>\n

Standing in the way:<\/strong> Chevron, which operates the Nargis gas field \u2014 one of the country\u2019s<\/a>biggest recent discoveries<\/a> \u2014 is pushing for better fiscal terms before submitting a development plan, according to the report. The company is reportedly seeking a gas price higher than the USD 6.20 per mn BTU that Egypt currently pays Eni for Zohr output, stalling plans to accelerate the project. \u201cCairo has been left frustrated by their approach and was hoping to fast-track Nargis development due to its growing gas needs. Evidently Chevron and Eni are leveraging this to try and squeeze Cairo for those improved terms,\u201d an industry insider told MEES. <\/p>\n

\u201cMEES understands that the most likely scenario would see combined development of <\/strong>Nargis and Nour,\u201d <\/strong>the report writes. Citing a local oil official as saying \u201cconsidering their proximity to under-utilized Eni facilities [the now depleted Thekah field is just 40km away], and Eni\u2019s participation in both, this presents obvious synergies.\u201d However, before any development plans are finalized, Chevron is set to drill an appraisal well at Nargis in 2H 2025.<\/p>\n

Remember:<\/strong> After becoming a net exporter of LNG in 2018<\/a> and signaling its intention to become an important energy exporter to the region and Europe, production falls and rising domestic demand led to Egypt having to ramp up imports to bridge the supply gap.<\/p>\n

\n

IN OTHER ENERGY NEWS-<\/p>\n

Dragon Oil eyes further investments in Egypt as overdue payments shrink: <\/strong>Dragon Oil, a subsidiary of Emirates National Oil Company (Enoc), is exploring new prospects in our oil sector as the Madbouly government continues to make good on its overdue payments, CEO Ali Al Jarwan told Asharq Business (watch, runtime 5:00<\/a>) on the sidelines of the Egypt Energy Show.<\/p>\n

Dragon Oil remains committed to investing USD 500 mn in Egypt in 2025 <\/strong>for operational and capital expenditures while actively seeking further expansion prospects, Al Jarwan said. He added that Egypt's investment environment has become more attractive as the government continues to clear outstanding arrears.<\/p>\n

AND- <\/strong>China\u2019s <\/strong>North Petroleum lines up USD 100 mn for new investments in Egypt: <\/strong>North<\/a>Petroleum International Company<\/a>, the Egyptian arm of Chinese state-run ZhenHua Oil, has allocated USD 100 mn to secure new oil and gas concessions in Egypt and form partnerships for exploration in the Western Desert and the country\u2019s offshore areas, the company\u2019s Country General Manager Sun Bao told Asharq Business<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

This marks the third consecutive annual decline in local gas production<\/p>\n","protected":false},"author":1,"featured_media":661090,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[93,72,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-661089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enterpriseam","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"1e9cfd17-2879-4258-9904-0ca345a98d2d","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/2095.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s gas production hits eight-year low at 4.87 bcf\/d","related_issue":[661079],"teaser":"This marks the third consecutive annual decline in local gas production","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.100cd337-d639-4a8b-a9a9-aa1459f1dffc.mp3"},"yoast_head":"\nEgypt\u2019s gas production hits eight-year low at 4.87 bcf\/d - 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Egypt\u2019s current production of natgas amounts to 7 bcf\/day and is projected to rise to 7.5 bcf\/d by\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591799,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/17\/egypt-aims-to-increase-gas-production-to-8-bcf-d-by-fy2020-2021\/","url_meta":{"origin":661089,"position":1},"title":"Egypt aims to increase gas production to 8 bcf\/d by FY2020-2021","author":"enterpriseam admin","date":"17 December 2019","format":false,"excerpt":"Egypt aims to increase gas production to 8 bcf\/d by FY2020-2021, up from 7 bcf\/day currently, an oil industry source told the local press. Output is projected to rise to 7.5 bcf\/d by the end of the current fiscal year in June, raising surplus production to 1.5 bcf\/d from 1.3\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594654,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/03\/natural-gas-production-increases-to-7-bcf-d\/","url_meta":{"origin":661089,"position":2},"title":"Natural gas production increases to 7 bcf\/d","author":"enterpriseam admin","date":"3 September 2019","format":false,"excerpt":"Egypt\u2019s natural gas production has reached 7 bcf\/d, up from 6.8 bcf\/d at the end of June, an Oil Ministry official told Reuters. Production at Zohr field rose to 2.7 bcf per day last month, ahead of its development plan by around four months.","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597164,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/17\/egypt-achieves-1-56-bcf-d-natural-gas-surplus\/","url_meta":{"origin":661089,"position":3},"title":"Egypt achieves 1.56 bcf\/d natural gas surplus","author":"enterpriseam admin","date":"17 July 2019","format":false,"excerpt":"Egypt has achieved an average natural gas surplus of 1.56 bn cf\/d, an Oil Ministry source told the local press.Production at the Zohr natural gas field is expected to rise to 2.95 bcf\/d by next July, up from 2.3 bcf\/d currently. The country\u2019s average gas consumption is expected to reach\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596262,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/22\/zohr-natural-gas-field-production-rises-to-2-7-bcf-d\/","url_meta":{"origin":661089,"position":4},"title":"Zohr natural gas field production rises to 2.7 bcf\/d","author":"enterpriseam admin","date":"22 August 2019","format":false,"excerpt":"Zohr production is four months ahead of schedule: Production from the Zohr natural gas field has reached the 2.7 bcf\/d mark four months ahead of schedule, Oil Minister Tarek El Molla said in a statement (pdf). This is significantly higher than the figures provided by Rosneft, which last week said\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593825,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/10\/egypt-reduces-natural-gas-production-amid-lower-demand\/","url_meta":{"origin":661089,"position":5},"title":"Egypt reduces natural gas production amid lower demand","author":"enterpriseam admin","date":"10 October 2019","format":false,"excerpt":"The Oil Ministry has reduced Egypt\u2019s natural gas production to 6 bcf\/d, from 7 bcf\/d after lower domestic and international demand resulted in surplus production, an unnamed ministry source told the local press. It is expected that the production will gradually rise back to 7.5 bcf\/d in this fiscal year.","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/661089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=661089"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/661089\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/661079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/661090"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=661089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=661089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=661089"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=661089"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=661089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}