Stability from Sisi - but at what cost?

摘要

POLITICAL stability under President Abdel-Fattah el-Sisi has encouraged oil companies to embark on major upstream projects that have helped put Egypt back on the global energy map, after years of turmoil following the 2011 revolution, writes Nassir Shirkhani. The oil and gas sector has been Egypt's shining star under Sisi, luring billions of dollars in investment and enabling his government to tackle a mounting debt pile to oil companies, which had acted as a major deterrent to spending, particularly in costly offshore areas. Sisi's success is, however, viewed as a cause for concern because of his increasingly authoritarian style and heavy-handed treatment of opponents. Egypt went through a similar experience under long-time autocratic ruler Hosni Mubarak, who was swept from power in the revolution.