President Abdel Fattah El-Sisi met with John Ardill, Vice President of Global Exploration at ExxonMobil, to review the progress of operations at its concession areas, particularly at the Mediterranean Sea.
The Meeting, attended by Prime Minister Mostafa Madbouly and Karim Badawi, Minister of Petroleum and Mineral Resources, witnessed discussions on cooperation prospects in Egypt’s rapidly progressing energy sector.
Ardill presented a detailed report on the progress of work done in ExxonMobil’s two concession areas in the Mediterranean, Cairo and Masry, during the meeting. He pointed out that the company is utilizing advanced drilling technologies and intensifying upstream efforts following seismic surveys to make discoveries. These discoveries support Egypt’s position as a regional energy hub.
In April, the Egyptian Natural Gas Holding Company (EGAS) signed a preliminary Memorandum of Understanding (MoU) with ExxonMobil Egypt Upstream Ltd. to lay the foundation for a new system in the Cairo and Masry offshore concession areas in the Mediterranean. The MoU will encourage ExxonMobil to develop an integrated development plan if exploratory drilling activities lead to positive results, particularly as the company has completed a 3D seismic survey covering 11,000 square kilometers, with data analysis currently underway ahead of drilling operations, according to the ministry.
