Rigzone Ranks the Top 10 Oil & Gas Cities in the World
The largest city in Africa and the Arab world, Cairo is situated on the banks of the Nile River. Among one of the world's most densely populated cities, Egypt's capital holds more than 10 million people, according to the U.S. Central Intelligence Agency. This bustling city is one of the largest urban areas in Africa.
Energy Impact
A vital, non-OPEC member, Egypt is the second largest natural gas producer and largest oil producer in Africa. With its first oil well – Gamasah - dating back to the early 1900s, as of January 2012, Egypt holds nearly 4.4 billion barrels of proven oil reserves and nearly 77 trillion cubic feet of proven natural gas reserves, according to the U.S. Energy Information Administration (EIA).
Headquartered out of Cairo, the Ministry of Petroleum and Mineral Resources supervises all oil and gas activities in Egypt. The agency is comprised of six entities, including: Egyptian General Petroleum Corporation (EGPC), Egyptian Natural Gas Holding Company (EGAS), Egyptian PetroChemicals Holding Company (ECHEM), Ganoub El Wadi Petroleum Holding Company (GANOPE) and Egyptian Mineral Resources Authority (EMRA).
Five key oil production areas in Egypt are: the Eastern Desert, the Western Desert, the Gulf of Suez, the Nile Delta and the Mediterranean Sea. Although overall output is on the decline, enhanced oil recovery (EOR) techniques are being used in mature fields.
However, natural gas is predicted to grow Egypt's energy sector, considering the country holds the third highest proven gas reserves in Africa. More than 70 percent of Egypt's natural gas production is located in the Mediterranean and Nile Delta, according to the EIA.
Foreign companies dominating Egypt's upstream oil and gas sector include: Apache Corp., BG Group plc, BP plc, Dana Gas, Eni S.p.A., Hess Corporation, Royal Dutch Shell plc, Petroliam Nasional Berhad (PETRONAS) and OAO LUKOIL.
Due to its proximity, Egypt's government profits in international markets from fees generated by the Suez Canal Authority and Suez-Mediterranean (SUMED) pipeline, an Arab Petroleum Pipelines Company, transit routes for oil shipments between the African and Persian Gulf states and Europe.
City Highlights
Cairo's rich history dates back to A.D. 969 when the Fatimids established it as a capital for the Islamic Fatimid dynasty. Much of the construction that was commissioned during the Fatimid time remains today; Al-Azhar University - Gaza, which served as Cairo's first mosque, is currently one of the oldest universities in the world. Cairo underwent many dynasty-changes until 1805, when Muhammad Ali Pasha – the father of modern Egypt – began to rule the country. However, it wasn't until his grandson Ismail Pasha's ruling that the city's present-day landscape was established.
Cairo offers several historic sites of its own and nearby Ancient Egyptian wonders, such as the Pyramids of Giza and the Sphinx. The Museum of Egyptian Antiquities houses the largest collection of ancient Egyptian artifacts in the world.
Known primarily for its medieval Islamic architecture – the city is nicknamed "the city of a thousand minarets" – Cairo is also the center for Coptic Christianity, which originated during the apostolic period in Alexandria.
Lending from its rich historical heritage, Cairo's most famous marketplace – the Khan al-Khalili – dates back to the 1300s and offers a medley of crafts from local artisans, street food and ‘ahwa (a traditional coffeehouse). Traditional Egyptian eateries include taa'miya (falafel), ful (bean paste), koushari (lentils, macaroni, rice and chickpeas) and kebab.
Author: Saaniya Bangee
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