PM Reviews Concession Areas in Mediterranean with ExxonMobil
Taarek Refaat
Prime Minister Mostafa Madbouly received John Ardell, Vice President of Exploration at ExxonMobil, at the government headquarters in the New Administrative Capital this Sunday evening, to review the status of several of the company's concession areas in Egypt.
The Prime Minister began the meeting by affirming that ExxonMobil is a strategic partner of Egypt in the energy sector, expressing his appreciation for the company's activities in the oil and gas sector in the Egyptian market. He noted that today's meeting aims to discuss the status of several of the company's concession areas, particularly in the Mediterranean, as well as to review future cooperation opportunities between the government and the international company.
Madbouly told company officials, "I am fully confident in continuing our fruitful cooperation with ExxonMobil, an important and trusted partner." He added that he and the Minister of Petroleum are constantly following up on the company's activities in the Egyptian market and the status of its current projects.
In turn, Ardell reviewed the status and work program in the company's two natural gas concession areas in the Mediterranean, Cairo and Masry, and the modern technologies the company will use in drilling operations. He noted that drilling efforts are being intensified after the completion of seismic surveys as part of exploration efforts in both areas.
He confirmed that ExxonMobil is accelerating the completion of drilling operations in the two concession areas. He also reviewed the current conditions of deepwater drilling, saying, "We look forward to making more discoveries in the Egyptian market."
On his part, Engineer Karim Badawi presented the investment opportunities available in the Egyptian petroleum sector in the fields of natural gas and oil exploration and research, emphasizing that ExxonMobil is one of our most important foreign partners in the oil and gas sector.
At the conclusion of the meeting, the Prime Minister affirmed his readiness to provide all possible support and incentives to ExxonMobil to accelerate the drilling process in the Cairo and Masry concession areas.
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