Prime Minister Mostafa Madbouly praised the strong ties between Egypt’s petroleum sector and the global energy company Chevron, expressing hope for continued cooperation, given the company’s extensive experience and strong presence in the Eastern Mediterranean.
Madbouly met on Thursday with a delegation from Chevron, on the sidelines of his participation, on behalf of President Abdel Fattah El-Sisi, in the 81st session of the UN General Assembly in New York.
He expressed Egypt’s interest in expanding Chevron’s exploration activities in the country by taking advantage of government incentives and assessing available areas that match the company’s strategy and technical capabilities.
Madbouly said increased investment in drilling and exploration could help boost natural gas supplies to Egypt.
The government, he added, is ready to provide the necessary support within the rules and procedures governing investment in Egypt, helping accelerate projects and advance exploration and production activities.
Chevron officials highlighted the importance of their investments in Egypt and expressed interest in expanding their activities in the country and the wider Eastern Mediterranean, including exploration and production.
The meeting also addressed Chevron’s plans for its operations in Egypt in the coming period, as well as regional and international developments and their impact on energy production, supplies and prices.
