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Concept
Energy in Egypt
Summary
This article describes the energy and electricity production, consumption and import in Egypt.
Electricity sector in Egypt
Egypt has the sixth-largest proved oil reserves in Africa. Over half of these reserves are offshore reserves. Although Egypt is not a member of OPEC, it is a member of the Organization of Arab Petroleum Exporting Countries.
Egypt's proven oil reserves were estimated at , of which was crude oil and were natural gas liquids. Oil production in 2005 was , (down from in 1996), of which crude oil accounted for .
The National oil company is the Egyptian General Petroleum Corporation.
Egypt is estimated to hold initial recoverable liquid reserves. After decades of production, it is estimated that the country has approximately recoverable oil remaining, as of January 2011. These figures indicate that 83% of Egypt's recoverable oil reserves have been depleted.
The Safaga-Quseir area of the Eastern Desert is estimated to have reserves equivalent about of in-place shale oil and the Abu Tartour area of the Western Desert is estimated to have about of in-place shale oil. The 1000 to 2000 foot thick and organically rich, total organic content of about 4%, Khatatba Formation in the Western Desert is the source rock for wells there and is a potential source for shale oil and shale gas. Apache Corporation, using substantial assets acquired in 2010 from BP after the Deepwater Horizon disaster, is the major operator in the Western Desert, often in joint ventures with Egyptian General Petroleum Corporation (EGPC) such as Khalda Petroleum Company and Qarun Petroleum Company. In 1996 Apache merged with Phoenix Resources, which had made the Qarun discovery in 1994, and took over operations of the Qarun Concession in Egypt. Apache has developed about 18% of the 10 million acres it controls, in 2012 running a score of rigs; drilling about 200 development and injection wells; and about 50 exploration wells with a success rate of about 55%. Plans for 2013 included an investment of about $1 billion in development and exploration.
Official source
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