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IOC interest shows Egyptian gas sector resilience

Egyptian upstream offerings are attracting bigger players than some equivalent bid rounds elsewhere in the region with majors betting on robust domestic consumption Egyptian upstream offerings are attracting bigger players than some equivalent bid rounds elsewhere in the region with majors betting on robust domestic consumption.
By James Gavin 30 January 2020 Middle East & Africa / Exploration & Production 0 34976
First phase of BP's West Nile Delta field, Egypt. (BP)

The key issue: Egypt may be struggling to sell its rising gas output, but the size of the domestic market renders it of keen interest to big international players.

Interfax analysis: Egypt kicked off 2020 with the entry of United States majors Chevron and ExxonMobil into its gas-focused offshore areas. Egyptian newcomer Chevron acquired acreage in the northern Red Sea, while ExxonMobil signed up to explore in the western Mediterranean.

These developments underpin surging Egyptian gas production, which has left the authorities facing a problem. There...