Egyptian oil production has climbed to its highest level in 14 years as the country looks to revive the sector.

Furthering this, the Daily News Egypt has reported that the Egyptian General Petroleum Corporation (EGPC) has signed a number of lucrative new agreements with countries such as the UK, Italy, Malaysia and Kuwait.

So too, the Egyptian government has also recently entered into a strategic alliance with Iraq which would see the EGPC help to build 20 filling stations, in addition to running oil training courses for the Iraqi workforce.

"Although Egypt is not a main producer comparable to other countries in the Middle East, several companies and engineers have acquired valuable experience in the Gulf," explained Gamal Soltan, a research fellow at the Al Ahram Center for Political and Strategic Studies.

He added that it is this experience that gives the group a tactical advantage in the region.

According to Oil Egypt, the EGPC owns 12 public sector companies and has shareholdings in 39 additional private sector firms.

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