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Tuesday, 21 May 2019

ExxonMobil looking to invest in oil and gas exploration in Egypt

Ahram Online , Thursday 14 Mar 2019
Views: 3236
Views: 3236

Steve Greenlee, the president of ExxonMobil Exploration Company, said during a meeting with Egyptian Minister of Petroleum Tarek El-Molla that the company is looking to invest in Egypt for the first time by participating in energy exploration and production activities.

Greenlee and El-Molla met on the sidelines of CERAWeek – the World's Premier Energy Event, taking place in Houston, US.

Greenlee said that the company is interested in the bid rounds launched by the Egyptian oil and gas sector for exploration in the Mediterranean and Red Sea.

El-Molla and Greenlee affirmed that Exxonmobil’s decision to invest in Egypt’s E&P field will have a positive return on the Egyptian oil and gas industry, increasing the presence of international oil companies in Egypt and pumping more investments.

Egypt's petroleum minister also held talks with Francis R. Fannon, the Assistant Secretary for the Bureau of Energy Resources (ENR) at the US Department of State, to discuss promoting bilateral cooperation in the petroleum and natural gas sector.

El-Molla also attended a plenary meeting of the American Chamber of Commerce and met with Apache CEO John J Christmann to discuss the company's action plan in oil and gas exploration in Egypt's Western Desert.

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