EGYPT: Oil Company Receives Land for Exploration

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Flag of Egypt

The Oil Company, ExxonMobil has made it clear that the company has received more than 1.7 million acres of land for exploration offshore Egypt.

The area of land awarded includes 534,000 acres of land in the North East El Amriya offshore in the Nile Delta and 1.2 million acres of land situated five miles offshore Egypt’s Northern Coast of North Marakiaoffshore block in the Herodotus basin.

The oil company will work and operate perfectly in both areas awarded to them and ensure adequate outputs are recorded.

The Chairman and Managing Director of ExxonMobil Egypt, Mr. Hesham Elamroussy said that the Oil Company has been supporting Egypt for more than 115years and that the award will boost their allegiance to ensure high-quality advancement and progress in the country.

The acquisition will uphold Exxonmobil’s interest In Egypt where it has been a foremost company in fuel production, lubricant, and specialties market since 1902.

The Senior Vice President of exploration and new ventures at ExxonMobil, Mr. Mike Cousins noted that the company is looking forward to collaborating with the Egypt Government and arranging for proven expertise and advanced technology.

The Senior Vice President said that the awarded lands will strengthen their exploration portfolio in the Eastern Mediterranean.

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