Petroleum Africa
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Friday, August 6, 2021
According to a press statement from the Egyptian Ministry of Petroleum and Mineral Resources, Egypt is eyeing American supermajor Chevron for additional investment into its oil and gas arena, specifically in the Red Sea and the Mediterranean.
Minister Tarek El Molla and Chevron officials discussed potential areas of cooperation in exploration and production during a recent meeting. El Molla stated that Chevron’s move to expand its investments in Egypt is due to the much-improved investment climate in the North Africa country and the successful implementation of reform programs in multiple sectors, including oil and gas.
During the meeting, the participants also discussed Chevron’s current E&P activities in the four areas where the company is the operator, including north Sidi Barrani, north Dabaa, offshore Nargis, and block 1 in the Red Sea. The company’s E&P operations in north Cleopatra and north Marina in which Chevron is working in partnership with Shell were also reviewed.
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