Continental Focus, International Reach

ExxonMobil Mulls Investing in Egypt

Tuesday, December 5, 2017

ExxonMobil has expressed an interest in entering another African nation, this time Egypt. The company is reportedly in talks with the North African country’s petroleum minister Tarek El Molla over investments in oil and gas production.

“We have been discussing with them, visiting them. They’ve visited us… We are exploring all opportunities for having more and further up streamers in Egypt,”Molla was quoted by Reuters as saying.

The US supermajor has been eying more than one African country for new investments. Talk of the company holding discussions with the governments of Ghana and Mauritania have been making the rounds as it works to shore up its resource base.