Under the slogan ‘North Africa and the Mediterranean: Delivering Energy Today’, the conference will attract national and international oil companies along with prominent government officials, business leaders, local and multinational corporations, and petroleum industry experts.
The conference will witness the participation of 11 ministers of petroleum and energy from several countries led by representatives from the Organisation of the Petroleum Exporting Countries (OPEC), Organisation of Arab Petroleum Exporting Countries (OAPEC), the International Energy Agency (IEA), the Eastern Mediterranean Gas Forum (EMGF), the Union for the Mediterranean (UfM), African Petroleum Producers’ Organisation (APPO), the World Energy Forum, and the Mediterranean Energy Observatory.
A number of strategic and technical conferences will be hosted during the event, including the Finance & Investment Summit, HSE in Energy, and Equality in Energy Conference. The show will also feature three awards ceremonies that celebrate outstanding achievements, namely the HSE Excellence in Energy Awards, Global Equality in Energy Awards, and Global Finance and Investment Awards.
The EGYPS is the largest oil, gas, and energy conference and exhibition across Egypt, North Africa, and the Mediterranean. This year’s conferences bring together more than 260 speakers, energy experts, ministers, CEOs, and decision-makers, the press release said.
Egypt has made a series of oil and gas discoveries in recent years, most notably the giant Zohr gas field off the Mediterranean, which holds an estimated reservoir of 30 trillion cubic feet of gas.
The gas discoveries have helped Egypt reach self-sufficiency in natural gas in 2018 and also helped Egypt pursue becoming a regional hub for gas exports.
Egypt also plans to use its proximity to Europe to become a major supplier of liquified natural gas (LNG) to the continent — which is transitioning away from other fossil fuels — through its Idku and Damietta LNG plants.
In December, the Cabinet said the country’s production of crude oil and natural gas rose by 8.4 percent Y-o-Y in 2021, up from 2020’s 82.4 million tonnes.
Egypt’s gas exploration plan for FY2022/23 is expected to add 450 million cubic feet to gas production per day and 17,200 barrels per day of condensates.
Meanwhile, the country’s investments in gas exploration and production will exceed $1.6 billion in both the current and coming fiscal years.