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Egypt is abuzz with activity, and it is not just natural gas making headlines. EGPC offered one of three planned international oil and gas exploration rounds in 2019, for the Western and Eastern Deserts and the Gulf of Suez. This was part of an ambitious plan to attract investors and grow domestic production.

Dana Gas had a fairly successful 2019, with a 246% increase in nine month 2019 net profit, with $142mn profit compared to $41mn for the same period in 2018. The company was forced to plug offshore Egypt Merak-1 well failing a commercial discovery, but noted that the block has three other independent prospects.

Wintershall DEA joined the Ghasha ultra-sour gas concession in November 2018, acquiring a 10% stake. Since then, it agreed with Libya NOC to establish a joint operating company for the Sirte Basin concessions, and expanded its presence in Egypt with $500mn investments planned between 2018 and 2020.

One of the major success stories in the region comes from Egypt’s gas production, which has rocketed in recent years. The recent Red Sea bidding round, as well as interest from international oil companies to invest billions of dollars into the nation’s blossoming oil & gas industry, with a focus on gas, spells good news […]

ExxonMobil acquired approximately 6,900sqkm offshore Egypt for exploration activities. This includes the North Marakia offshore block and the North East El Amriya offshore block. It will operate both block and holds 100% interest. The company also partnered with Mosaic Materials for carbon capture technology.

Shell has taken the spotlight for its growing commitment to curbing climate change. For example, it exited a lobby for its lack of support for the Paris Agreement. However, it also sold its onshore assets in Egypt’s Western Desert and sold its $631mn share of it SASREF refining joint venture to Saudi Aramco.

Abu Dhabi sovereign wealth fund Mubadala announced in July that its assets under management hit $229bn. It is highly active in oil & gas internationally, with interests in Indonesia, Thailand, and Egypt, among others. It won a concession block with Shell in Egypt’s Red Sea bidding round, with an area of approximately 3,000sqkm.

ENI’s CEO Claudio Descalzi has earned his spot thanks to his relentless efforts to expand in the Middle East. The company has made many discoveries in the region, specifically in Egypt, but made headlines in 2019 for a spate of agreements. ENI won three of UAE emirate Sharjah’s onshore exploration concessions and offshore Block A […]

This will be Bob Dudley’s final appearance on our ranking, as he prepares to retire after a remarkable decade at the head of British Petroleum. Having seen the firm through the aftermath of the Deepwater Horizon tragedy and the oil price crash, he has guided the company through rough seas. In 2019, BP bought a […]