In the recent years, the Mediterranean region has witnessed important hydrocarbon discoveries beneath its waters. These discoveries, in addition to the already existing reserves, are valuable assets for the region’s economy and unlock significant prospects between the Mediterranean countries in terms of energy cooperation.
Egypt has an attractive climate for hydrocarbon investments. Many international and national firms are interested to enter the Egyptian hydrocarbon market, whether by conducting exploration and production (E&P) activities or through establishing stations to sell hydrocarbon products.
The risks of failure involved in chemical processes cause the petrochemical industry to be relatively averse to innovation. Yet, as the sector corresponds to 3% of Egypt’s gross domestic product (GDP), as well as directly and indirectly impacts other sectors of the economy, the petrochemical sector requires the most up-to-date technology to increase production and meet growing domestic demand.
The interest in application of Enhanced Oil Recovery (EOR) has globally increased, as most of mature oilfields cannot maintain their production unless EOR treatment is deployed. However, the currently implemented oil recovery phases in Egypt are mainly primary and secondary phases with limited applications of EOR techniques.
A paramount indicator of the health of the investment climate in Egypt’s hydrocarbon industry is the performance of industry bid rounds. The fluctuating level of interest, value of the deals, and so forth tell tales not only about the investment influx in the sector, but of the confidence in the government as well as the economic prospects of the industry.
As conventional oil fields are nearing maturity, market players have long shifted their focus towards maximizing the commercial viability of existing mature fields. Conventional brownfields account for around 65% of global oil production.
The market used to worry about peak oil supply. The focus has shifted to peak oil demand as the industry witnesses a structural decline in demand from the developed world, and questions the appetite of the emerging world to grow at the insatiable rates experienced over the past 15 years.
Cloud computing has been widely spread among companies due to its beneficial commercial use. The technology’s simple software system builds vast computer networks that secure data and enable new business opportunities.
Vessel inspection and corrosion-under-insulation (CUI) management for onshore, offshore, and subsea areas can be slow, costly, and dangerous. Non-destructive-testing (NDT) techniques are commonly used to carry out these inspections; however, although effective, these techniques are slow and require extensive preparation.
Two years after its discovery, Egypt’s mammoth natural gas field is set to begin production this fall, providing welcome relief to a country currently heavily dependent on gas imports. The exploitation of Zohr—and its neighboring fields of Aphrodite, Tamar, and Leviathan in Cyprus and Israel—opens new opportunities for Egypt.
