President Abdel Fattah El Sisi met on Tuesday with Vice President for Exploration at ExxonMobil John Ardill in Cairo. Prime Minister Moustafa Madbouli and Petroleum Minister Karim Badawi attended the meeting.
The meeting discussed the ongoing oil and gas exploration in Egypt. President Sisi welcomed ExxonMobil officials and praised the company as a key strategic partner in the energy sector.
He said Egypt is keen to strengthen partnerships and improve policies to attract more investment.
ExxonMobil vice president thanked the president for his continued support. The company senior official praised recent progress in Egypt’s energy sector, which has led to increased investment in exploration.
ExxonMobil is working with QatarEnergy on deep water exploration in the Mediterranean. The work is taking place in two concession areas, Cairo and Masry. The company said it is intensifying activities to identify new gas resources.
The company plans to begin a new drilling programme in the East Mediterranean by the end of this year. It will start with an exploratory well in the Cairo and Masry offshore blocks. ExxonMobil is currently contracting a drilling vessel for the project.
The meeting also covered ExxonMobil’s plans for major discoveries in Cyprus, including the Glaucus and Pegasus fields. The company is studying ways to develop these fields and transport gas to Egypt for liquefaction, benefiting both countries and investors.
President Sisi praised the company’s efforts and said the government is ready to remove any obstacles facing investors.
He stressed that new gas discoveries are a top priority for Egypt, especially amid global energy challenges.
He also confirmed Egypt’s commitment to paying all dues to foreign partners in the oil and gas sector in the coming months.
