The Egypt oil and gas upstream market size is anticipated to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to rapid urbanization, increasing spending on advances technologies, and growing fuel demand.
Extraction of crude oil from an oil well & field is called as tertiary recovery which is also known as enhanced oil recovery, is the system of recovering oil that cannot be extracted in another way.
Enhanced oil recovery increases the recovery factors and also helps to extend the life of fields & increase the oil reserves recovered. For increasing the older investments returns & maintaining production it is an important tool for enterprises.
To maximize the recovery of oil carbon dioxide & water are injected into the oil well. For making the gas more effective water is used which reduces the movement of carbon dioxide when the oil is displaced in the well.
The covid-19 pandemic affected the supply & demand of the Egypt oil and gas upstream market. Decreasing supply of raw materials, lockdown across the country, and supply chain disorders forced manufacturers to close down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing investment by government & private organization in upstream sector is projected to boost the market.
- Increasing focus on unconventional gas production is the major factor fueling the market.
- Lack of awareness about the enhanced oil recovery is projected to restrict the market expansion during the forecast period.
- High price of services is anticipated to hamper the market growth.
- R&D investment and technological advancement in Egypt oil and gas upstream market is projected to offer lucrative opportunities for the market players
Scope of the Report
The report on the Egypt oil and gas upstream market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Egypt Oil and Gas Upstream Market–Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018-2019
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Forecast Period
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2021-2028
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Segmentation
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Products (Natural Gas and Crude Oil), Locations (Offshore, Onshore, and Others)
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Country Scope
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Egypt
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players covered in the Report
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Egyptian Natural Gas Holding Company; Kuwait Foreign Petroleum Exploration Company [KUFPEC]; Wintershall AG; IPR Energy Group; Exxon Mobil Corp.; Total SA; BP Plc; Chevron Corp.; Royal Dutch Shell Plc; Egyptian General Petroleum Corp.; Eni SpA; Dana Gas PJSC; and Apache Corp.
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Market Segment Insights
The crude oil segment accounts for key share of the market
Based on products, the Egypt oil and gas upstream market is bifurcated into natural gas and crude oil. The crude oil segment accounts for a key share of the market. Growth of the market is attributed to rising industrialization and increasing technological advancement in oil & gas upstream. However, the natural gas segment is anticipated to expand at a rapid pace during the forecast period due to rapid expansion in development & research, increasing number of oil & gas fields, and increasing per capita income.
The onshore segment is anticipated to hold significant market share
On the basis of locations, the market is fragmented into offshore, onshore, and others. The onshore segment accounts for a significant share of the market. Growth of the market is attributed to increasing number of medium & small enterprises, rising viability of ultradeep water & deep-water projects, and increasing production of heavy crude oil. The offshore segment is anticipated to expand at a rapid pace during the forecast period due to factors such as reduction in the cost of operations and rapid development in transportation infrastructure.
Market outlook
The Egypt oil and gas upstream market is anticipated to expand at a high CAGR during the forecast period due to rapid expansion in downstream infrastructure and increasing capacity of oil refinery. Growth of the market is attributed to introduction of technological & novel advanced product and rapid development in transportation infrastructure.
Presence of major market players in Egypt and rapid economic growth in country due to increasing spending on advanced technologies is the major factor fueling the market during forecast period. However, reduction in production of vehicles and high price of services is estimated to hinder the market expansion in the coming years.
Segments
Segments Covered in the Report
The Egypt oil and gas upstream market has been segmented on the basis of
Products
Locations
Country
Key Players
- Egyptian Natural Gas Holding Company
- Kuwait Foreign Petroleum Exploration Company [KUFPEC]
- Wintershall AG
- IPR Energy Group
- Exxon Mobil Corp.
- Total SA
- BP Plc
- Chevron Corp.
- Royal Dutch Shell Plc
- Egyptian General Petroleum Corp.
- Eni SpA
- Dana Gas PJSC
- Apache Corp.
Competitive Landscape
Key players competing in the Egypt oil and gas upstream market include Egyptian Natural Gas Holding Company; Kuwait Foreign Petroleum Exploration Company [KUFPEC]; Wintershall AG; IPR Energy Group; Exxon Mobil Corp.; Total SA; BP Plc; Chevron Corp.; Royal Dutch Shell Plc; Egyptian General Petroleum Corp.; Eni SpA; Dana Gas PJSC; and Apache Corp.
Some of these players are using several market strategies such as collaborations, acquisitions, partnerships, merger, product launches, and capacity expansion to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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