Exxon Mobil obtains the right to explore for gas in two areas in the Mediterranean

Aya Hussain

Exxon Mobil announced that it had obtained exploration rights in Two regions off the Egyptian coast, namely the Masry region and the Cairo region, which are located in Egyptian marine areas in the outer framework of the Nile Delta and cover an area of ​​more than 11 a thousand kilometers. Square. Exploration rights are subject to government approval of the concession agreements, under which the two areas lie, and their signing in a timely manner.

Exxon Mobil Egypt “Upstream” Limited, which owns a share of 11%, will operate both blocks, provided that exploration activities begin during the current year, by following the signing of the concession agreements.

John Ardell, vice president of ExxonMobil Research and Exploration, said: “The addition of new acreage enhances ExxonMobil’s exploration portfolio in Egypt and the eastern Mediterranean. We look forward to harnessing ExxonMobil’s proven experience and advanced technology in cooperation with the Egyptian government to explore this border region.”

Eng. Amr Abu Eita, Chairman and Managing Director of ExxonMobil Egypt, said: “ExxonMobil looks forward to continuing to play a major role in the development of Egyptian resources, as a continuation of our successful investments and partnership in support of development in Egypt, and we value our cooperation with the government.” In this regard, we affirm the support of Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources. We are excited about such opportunities to explore new areas