Egypt

ExxonMobil eyes expansion in Egypt soon

Published on : 2023-10-16

Egyptian Prime Minister Mostafa Madbouly has met with the US-based ExxonMobil’s Senior Vice President Loic Vivier to discuss the company’s expansion plans in Egypt in the coming period, as per a statement.

During the meeting, the Minister of Petroleum and Mineral Resources Tarek El-Molla announced that the production from an oil exploration well affiliated to the American firm in Egypt is expected to start within a few months.

For his part, Vivier noted that the company has significant investment plans in Egypt.

ADES wins jackup drilling contract in Egypt

Saudi-listed ADES Holding Company said it has received a direct award of contract (DAC) from Suez Oil Company (SUCO) in Egypt for three jackup drilling rigs in the Gulf of Suez, which is expected to commence in the coming weeks.