The main focus of Egypt’s upstream in recent years has been its gas output, which rose to 6bn cfd in June, a six-and-a-half year high (MEES, 13 July). Crude output on the other hand fell to a 35-year low in March last year but has since rebounded, posting a 10-month high 645,000 b/d in May.
Egypt’s Petroleum Ministry is targeting oil output of 700,000 b/d by end-2017. Longer term it hopes a recently-launched bid round will provide a boost (MEES, 25 May). (CONTINUED - 664 WORDS)
