Egypt Discovery Transforms Petroleum Outlook in Eastern Mediterranean

Oil rig
Picture Credit: Flickr/Gary Bembridge
Dr Carole Nakhle

When it comes to oil and gas exploration and production, Egypt is in a different league than its neighbors in the Eastern Mediterranean. Its oil activity spans more than one century and the country enjoys a colorful corporate landscape where large and small international companies and national companies cooperate and continue to make significant discoveries. From a regional perspective, having such a major competitor right at their own doorsteps presents challenges to countries like Lebanon, Cyprus, and Israel. But this does not necessarily signal a race to the bottom. On the contrary, it can lead to opportunities if cooperation is pursued.

Read the full article in English and in Arabic.

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