Exxon Mobil officials are in talks with the Egyptian Ministry of Petroleum and Mineral Resources in order to invest in the country’s oil and gas upstream sector, Minister of Petroleum, Tarek El Molla, told Reuters.
“We have been discussing with them, visiting them. They’ve visited us […] We are exploring all opportunities for having more and further upstreamers in Egypt,” Molla stated on the sidelines of an OPEC meeting in Vienna.
“I would be happy to have them with us,” El Molla noted, adding that the ministry has not made any decision yet.
Meanwhile, Exxon Mobil refused to comment on the news.
Exxon Mobil is a company based on Texas, with no upstream operations in Egypt yet. The firms is seeking to is looking explore the eastern Mediterranean offshore basin, according to industry sources.