The Oil & Gas Year Egypt 2015
Egypt has set off on the road to recovery from the political and economic instability that erupted in 2011. The election of President Abdel Fattah El Sisi in 2014 ushered in a sense of optimism in the market. Investment is a top priority for the government, as indicated by the Egyptian Economic Development Conference held in March 2015. Investors have been encouraged by the government’s embrace of energy reform and changes to the country’s burdensome subsidy regime. Outstanding debts to international oil companies have been a subject of particular concern in Egypt, but the administration has made large strides in paying back its arrears.
The country is making a push to encourage exploration and production with new oil and gas bidding rounds in attempt to cope with soaring domestic energy demand. It is also looking to increase its share of the oil and gas value chain by developing its downstream and petrochemicals sector. The government’s project of expanding the Suez Canal and expanding industrial activity in its surrounding areas will bring important advantages for marine services companies and the downstream market.
The Oil & Gas Year Egypt 2015 book is a comprehensive guide to this re-emerging market. It features interviews with important government figures, including Minister of Petroleum and Mineral Resources Sherif Ismail and top players in the domestic hydrocarbons industry, such as Tarek El Molla, CEO of the state-owned Egyptian General Petroleum Corporation. It also includes an extended roundtable discussion on Egypt’s downstream revival and numerous maps and resources.