Egypt is the second-largest producer of natural gas in the continent following Algeria. Credit KHALED DESOUKI via Getty Images.

Egypt will attempt to return its oil and gas production to ‘previous’ levels in 2025, according to Prime Minister Mostafa Madbouly.

The leader, speaking at a press conference on 21 August, said the government will seek the assistance of multiple international partners to help increase production.

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He added that there is a very clear plan “to bring the volume of production of oil and natural gas with foreign partners back to previous levels, and to also increase it in the coming period.”

According to Offshore Technology’s parent company, GlobalData, oil and gas in Egypt registered an 88.83% share of the country’s cumulative installed energy capacity in 2023.  

The production of crude oil and condensates in Egypt in 2024 is expected to be 605,722 barrels per day (bpd), according to GlobalData’s research, making the nation one of the leading producers of oil and gas in Africa.  

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The country is the second-largest producer of natural gas in the continent following Algeria, and the fourth-largest holder of natural gas reserves. 

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The country is attempting to become a hotbed for natural gas after recent discoveries such as the Zohr, a giant offshore gas field registering an estimated 30 trillion cubic feet of gas. 

However, the country has been hit by recent debt issues, following a scarcity of foreign currency. In March, the Egyptian Government said it had begun paying off the debt owed to foreign companies that were working on oil and gas projects in the country via a payment plan.

According to Reuters, the country needed to import around $1.18bn worth of natural gas and mazut fuel oil to stop frequent electricity blackouts.

The Ministry of Petroleum in Egypt announced last month that the country had signed two agreements with Shell Egypt, Petronus Gas and Cheiron Energy to invest $340mn to boost oil and gas production in the Mediterranean region and Gulf of Suez.