President Abdel Fattah El Sisi met with the CEO of Apache Corporation, John J. Christmann, the company announced in a press release.
During the meeting, the two sides discussed the business relations between Apache and Egypt, as well as the company’s work with the Egyptian Ministry of Petroleum as it supports the ongoing Modernization project.
Christmann and El Sisi further touched upon the company’s investment plans in Egypt.
Apache’s CEO expressed his enthusiasm for the country’s future, as it unleashes its full economic potential.
He said the country has demonstrated resilience amid challenging
economic circumstances thanks to strong leadership by President El-Sisi’s government and the enduring spirit of the Egyptian people.
“Egypt is well-positioned in terms of resources, geographic location and business climate to provide reliable oil and gas that drives economic growth and elevates the standard of living across the globe,” said Christmann.
“The modernization program led by the Ministry of Petroleum and Mineral Resources is critical to attract further foreign investments, which are needed to grow oil and gas production and develop Egypt into a regional energy hub,” he added.
The meeting follows the annual U.S.-Egypt Business Council roundtable with President El-Sisi in April 2021, where the president emphasized his desire to promote a favorable investment environment and thriving partnerships with American business.
In attendance at the meeting were H.E. Tarek El Molla, Minister of Petroleum and Mineral Resources, David Chi, Region Vice President and General Manager Apache and Clay Bretches, Executive Vice President, Operations Apache.