Minister of Petroleum and Mineral Resources Tarek El Molla has met with the Vice President of Specialty Products at ExxonMobil Loic Vivier to review the company’s activities in marketing its petroleum products and chemicals in Egypt as well as explore new opportunities for expansion.
During their meeting, El Molla emphasized the necessity of supporting cooperation and boosting partnership with ExxonMobil, as the globally largest company in marketing petroleum products, oils and chemicals as well as oil & gas exploration and production.
The minister added that the encouraging procedures for investment implemented by the petroleum sector during the past years have attracted ExxonMobil to enter the field of natural gas exploration and production in Egypt for the first time since starting its operation in Egypt.
He elaborated that the company is investing in two concession areas in the Mediterranean for natural gas exploration by the beginning of the next year.
Additionally, El Molla affirmed that the Egyptian market is attractive for both local and international companies in the petroleum products marketing field, noting that the diversity of investments and partnerships will enrich the competition in favor of the Egyptian consumers.
The meeting discussed the activities of the American company in the marketing of petroleum products, chemicals, and oils in the local market and the opportunities available for expansion. The vice president of ExxonMobil indicated the company’s interest in being present and promoting investment in Egypt in this field as Egypt is a large market with diversity and potential for expansion.