Sisi discusses means to promote co-operation with Apache Corp.

President Abdel Fattah El Sisi yesterday received Apache Corporation’s CEO and President, John J. Christmann to discuss means of promoting co-operation between Egypt and the giant US oil and gas company, one of the major oil producers in Egypt.

Minister of Petroleum and Mineral Resources Tarek el-Mulla, and a host of the company’s senior officials, attended the meeting, which also reviewed Apache’s existing business, and its targeted investment plans for oil and gas exploration and production in Egypt in the coming years.

President Sisi stressed Egypt’s support for the development of bilateral co-opertion, in light the company’s extensive history and valued social role in Egypt, Presidency Spokesman Ambassador Bassam Radi said.

The president welcomed the latest agreement between the Egyptian Ministry of Petroleum and Apache, to expand the latter’s activities in Egypt in research, exploration and production of petroleum and gas, which is likely to boost Egypt’s endeavours to become a regional hub for energy trade.

Sisi gave orders for continuing coordination and co-operation with the US company, removing any potential obstacles that may face its work, so that it can step up its oil and gas research and exploration in Egypt, Ambassador Radi said.

The president commended the strategic co-operation and the distinguished partnership between Egypt and all the US firms, as part of the outstanding ties between the two countries.

For his part, the Apache CEO praised President Sisi’s wise leadership and ambitions vision, which led Egypt to become a successful development and economic model, not only at the regional level, but also globally.

Christmann also lauded the distinguished ties between Egypt and the United States in all fields. He said that Egypt tops list of countries where the US companies are interested in promoting their investments. He underlined the positive investment climate in Egypt, and the promising opportunities of the Egyptian energy sector, especially in light of the great interest the state is attaches to developing this vital sector.