A High-Return Opportunity for High Net Worth Investors and Family Offices
In 2022, the high price of oil and gas brought some positive returns for investors, but economic volatility and rising exploration costs offset these gains. As of October 2023, the Energy sector continued to shine as the top-performing sector in the U.S. While short-term uncertainties persist, the long-term outlook for the energy sector remains promising, driven by the ever-increasing global demand for energy resources, particularly oil and gas.
But now, smaller energy companies like TAG Oil are seizing the opportunity to rejuvenate long-abandoned oil projects in Egypt that larger players had left dormant.The oil reserves in Egypt's Western Desert share geological similarities with the renowned Eagle Ford Shale in South Texas, a successful oil and gas producer since 2008. The Eagle Ford Shale's abundance—over 8.
Moreover, political instability and regulatory ambiguity have impeded Egypt's success in the oil and gas sector until recently. Recognizing the need to diversify its economy beyond tourism post-COVID, the Egyptian government is now actively promoting the oil and gas industry. Toby Pierce notes,"Despite ongoing geopolitical challenges in the region, the Egyptian government is boosting efforts to promote this industry.
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