ExxonMobil said on Wednesday it secured exploration rights to two blocks, Masry and Cairo, offshore Egypt. The blocks are located in the outer Nile Delta and cover more than 11,000 square kilometres. The awards are subject to governmental approval of the concession agreements covering the unions and their signature in due course.
ExxonMobil Egypt (Upstream) Limited will operate both blocks and hold 100% interest. Exploration activities are scheduled to begin in 2023, subject to the signature of the concession agreements.
“The addition of these blocks will further strengthen the company exploration portfolio in Egypt and the East Mediterranean,” said the upstream Vice President of Global Exploration John Ardill.
We look forward to working with the government to explore this frontier area, utilising the upstream proven expertise and advanced technology, he added.
“Building on our successful business and strong partnership in Egypt’s growth, ExxonMobil looks forward to continuing to play a key role in the development of Egypt’s resources,” said Chairman & Managing Director for ExxonMobil Egypt Amr Abou Eita. “We value our collaboration with the Egyptian government and are excited about these new exploration opportunities.”