ExxonMobil (NYSE:XOM), the US-based oil and gas giant, is poised to significantly expand its operations in Egypt, following a recent meeting between the company's Senior VP Loic Vivier and Egyptian Prime Minister Mostafa Madbouly on Monday. The meeting, which also included key figures such as Egypt's Petroleum Minister Tarek El Molla and Amr Abou Eita, focused on ExxonMobil's enduring partnership with Egypt, a relationship that has spanned over a century.
The Prime Minister expressed appreciation for ExxonMobil's commitment to the Egyptian market, underscoring the importance of their investment in the country's economy. The meeting highlighted ExxonMobil’s significant role in Egypt's energy sector, with El Molla emphasizing the company's substantial contributions to the industry.
In an exciting development for both ExxonMobil and Egypt's energy sector, El Molla announced the imminent start of production from an ExxonMobil-linked oil exploration well. This news follows discussions of ExxonMobil's expansion plans and significant investments in Egypt that were reported by Arab Finance in 2022. These developments affirm ExxonMobil's ongoing commitment to its operations in Egypt and its pivotal role in the country's energy landscape.
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