Can Egypt squeeze out more barrels with new fiscal terms?

Egypt's oil output is dominated by mature fields where production is rapidly declining and increasing investment is critical to reviving production. Recently, the country awarded modernised production sharing contracts to Apache, Eni and TransGlobe Energy Corporation to overcome fiscal challenges in brownfield investment. Our analysis shows that the new terms will enable significant additional investment with incremental production of up to 130,000 b/d and an increase in government value of 50% from these assets. We also examine if other brownfield operators could benefit from improved terms and how emissions reductions will be a key part of fiscal reforms.