Egypt displays its significant oil and gas reserves as an established promising nation by being ranked 16th in gas reserves worldwide.
In a noticeable progress that will have a positive impact on the economy, a study prepared by Edison International titled “Challenges and Opportunities for Egypt’s Gas Sector” corroborated that Egypt possesses the 16th largest gas reserves and is the 15th largest producer of gas, reported Daily News Egypt.
The study demonstrated that there has been the equivalent of 12bn barrels of oil discovered in Egypt’s gas reserves in the eastern region of the Mediterranean Seas through 2015, followed by the Gulf of Suez where roughly 11bn was extracted, 9bn barrels in the Nile Delta oil fields, and the equivalent of 10bn barrels in the concession areas in the western desert, explained Daily News Egypt.
Edison’s Vice President Nicola Monti stated “Egypt has the potential to become a regional center in the Mediterranean due to its strategic location, infrastructure and qualified ports for the export and import of oil and gas”. Monti elucidated that Egypt is the second largest producer of gas in Africa and the first non-OPEC country in Africa to produce gas, stressing that there are new geological layers that contain untapped reserves in the Gulf of Suez, the Western Desert, the Nile Delta, and the east of the Mediterranean.