various types oil equipment from in egypt

                                               
                                               
                                               
                                               
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  • How much oil does Egypt have?
  • The country’s proven hydrocarbon reserves stood at 3.6 billion barrels of oil and 75.5 trillion cubic feet (tcf) of natural gas at the end of 2020. The Egyptian government encourages international oil companies (IOC) to participate in the oil and gas sector. More than fifty IOCs are currently operating in the country at present.
  • How many international oil companies are there in Egypt?
  • The Egyptian government encourages international oil companies (IOC) to participate in the oil and gas sector. More than fifty IOCs are currently operating in the country at present. Egypt hopes to achieve self-sufficiency in petroleum products by 2022.
  • Why is oil & gas a major economic sector in Egypt?
  • The oil and gas industry is one of the most dynamic economic sectors in Egypt. Hydrocarbon production is by far the largest single industrial activity in the country, representing around 24 percent of total GDP in FY 2019-2020. FDI in the oil and gas sector has increased from USD 9 billion in FY 2014/2015 to USD 47.8 in FY 2019/2020.
  • Who manages the petroleum industry in Egypt?
  • The petroleum industry in Egypt is managed by the Ministry of Petroleum and Mineral Resources, under which five state-owned companies operate. Since the 1990s, the Egyptian government has enacted laws aimed at attracting international, regional and domestic investment.