Friday 22 Nov
During his current visit to the United Kingdom, Engineer Karim Badawy, Minister of Petroleum and Mineral Resources, held a meeting with John Ardill, Vice President of Exploration at Exxon Mobil Corporation, at the company's headquarters. The meeting was attended by Engineer Moataz Atef, Deputy Minister for the Technical Office and official spokesperson for the ministry.
The two sides discussed new
investment opportunities in Egypt's petroleum sector for the global company in
the fields of natural gas and oil exploration.
Badawy affirmed that the
petroleum sector has offered a package of new investment opportunities to
companies and investors, including the global tender announced by the Egyptian
Natural Gas Holding Company (EGAS) for gas exploration in 12 blocks in the
Mediterranean and the Nile Delta, as well as a group of investment
opportunities in the fields of exploration, development, and production in open
areas through the Egypt Upstream Gateway (EUG).
The meeting also reviewed Exxon
Mobil's work programs to explore natural gas resources in its concession areas
in Egypt in the Mediterranean and its plans to drill new exploration wells for
natural gas, utilizing state-of-the-art technology. Exxon Mobil is currently
investing in the North Marakia offshore area, as well as the Cairo and Masry
offshore areas, where seismic surveys have been completed as part of
exploration activities in the two areas.
The company expressed its interest
in the Western Mediterranean region, where it is currently investing in Egypt,
and indicated its desire to explore new investment opportunities in a natural
gas exploration concession area in Egypt within this promising region.
The Minister invited Exxon Mobil to consider the available opportunities, reaffirming the ministry's unwavering commitment to facilitating and encouraging investment in Egypt's energy sector.
