While Egypt is being forced to limit its gas output (MEES, 20 December), it is a completely different story for oil , with production falling to 615,000 b/d for October, the sixth consecutive monthly decline to the lowest level since March 2017. Egypt’s official target of reaching 690,000 b/d by June next year has no chance of being hit (MEES, 8 November).
Production from Egypt’s Western Desert oil heartland slipped to 328,000 b/d for October, the lowest level in over six years (see chart). State firm EGPC hopes a slew of Western Desert exploration contracts finalized last month will provide a boost going forward (MEES, 22 November). But the region’s key producers are less than effusive in their enthusiasm: key producer Apache has slashed capex (MEES, 9 August), whilst Shell is looking to quit the Western Desert altogether (MEES, 25 October). (CONTINUED - 202 WORDS)
