ExxonMobil
President Abdel Fattah El-Sisi has underscored the importance the Egyptian state places on natural gas exploration projects as he met on Sunday with John Ardill, Vice President of Global Exploration at American multinational oil and gas corporation ExxonMobil.
Egypt gears up for Eid with full service readiness as PM Madbouly pledges stronger ties with US investors and energy partners.
This initiative is a key part of the company’s strategy to bolster its presence in Egypt's energy sector, particularly in offshore gas exploration and development.
The completion of the ownership transfer process, the management of the concession area will be transferred to Shell, according to the company, which noted that the agreement is subject to the approval of the relevant government and regulatory agencies.
Qatar Energy will acquire 40 percent of the North Maraca marine area in the Mediterranean, while ExxonMobil (the operator) will own the remaining 60 percent stake.
The company added in a statement, Monday, that ExxonMobil Egypt (Upstream) Limited will operate and own a 90 percent stake, while Tharwa Petroleum holds a 10 percent stake, and the operations include reprocessing 3D seismic data in the region.
The US oil and gas industry leaks 60 percent more methane than official government estimates, a report said Thursday.
The team included crude oil traders, products marketers and finance staff from Houston, Singapore, Thailand and Shanghai.
The development of the conflict between the Iraqi central government and the KRG gives little room to understanding the origin of the dispute.
ExxonMobil's controversial stance on climate change will be back in the spotlight Wednesday.
