Egypt Expects Production Boost

Tuesday, July 18, 2017

Egypt plans on boosting its daily oil and condensates production over 2017/2018 according to the Egyptian Ministry of Petroleum and Mineral Resources. The Ministry expects to bring production to 750,000 bpd during the period as new discoveries are brought online.

The government’s strategy for 2017/2018 includes producing around 3.09 million tons of crude oil, and 3.95 million tons of condensates, which will cover most of the consumption during the new fiscal year.

Egypt is projected to achieve self-sufficiency by 2019, according to Minister of Petroleum, Tarek El Molla, which is expected to help in covering the local market’s fuel demands and decrease imports to secure foreign currency.

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