ExxonMobil is looking to shore up its oil and gas activities in Egypt, company President Bryan Milton said during a meeting with Oil Minister Tarek El Molla, according to an Oil Ministry statement (pdf). No further details were provided, but the company said earlier this year it is planning to invest 60 mn in Egypt and is particularly interested in opportunities in the gas-rich East Mediterranean.
More from Enterprise
How correspondent banking works, and what the FinCEN clampdown on Banque Misr UAE means for business
As FinCEN proposes cutting Banque Misr’s UAE branches from USD…
Inside the financing of Egypt’s IPP boom
The contracts and the resources are proven, so the open…
Why EGX stocks are going under the IPO wave
Fund managers are releasing liquidity for ongoing and future IPOs,…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…