Egypt has a long history of oil and gas production dating back to the early 1900s. Today, the petroleum sector remains a key driver of Egypt’s economy, contributing around 24% to the country’s GDP according to recent figures. In 2022 alone, the Egyptian oil and gas market generated total revenues of $49.4 billion. With planned investments of approximately $38 billion into petrochemical development initiatives over the next four years, the importance of this industry to Egypt is only growing.
As the data shows, petroleum plays a prominent role in Egypt’s economy. However, there is still significant potential for further growth and optimization within the sector. One area ripe for expansion is increasing domestic refining capacity. Currently, Egypt imports around 60% of its refined petroleum products to meet local demand. Boosting domestic refining through infrastructure development projects could help Egypt capture more value from production and reduce import needs.
Another opportunity lies in expanding natural gas monetization. Egypt possesses sizable reserves of natural gas, yet a lack of necessary infrastructure has prevented full utilization and export potential. Investing in liquefaction facilities and export infrastructure would allow Egypt to capitalize on growing global LNG demand. Monetizing associated gas from oil fields also presents an opportunity to reduce flaring and maximize resource value.
As a leading management consulting firm, Ruskin Felix Consulting (RFC) is well-positioned to support Egypt’s petroleum sector development goals. RFC brings extensive experience advising both private sector oil and gas companies as well as national governments. We can work with stakeholders across Egypt’s petroleum value chain to identify strategic priorities, conduct feasibility studies, and develop implementation roadmaps.
Our services also include project management, ensuring initiatives stay on track, on budget and deliver intended economic benefits. RFC’s global network and experience further allows us to facilitate partnerships that bring international expertise, financing and technologies to accelerate Egypt’s petrochemical ambitions. With the right strategies and execution, Egypt’s petroleum industry has significant room to contribute even more to the country’s economic and social progress. RFC stands ready to support these important national development goals.
