Tariq Al-Mulla, Minister of Petroleum and Mineral Resources, received Mr. Andy Brown, Head of Exploration and Production at Shell Global, during his current visit to Cairo in the presence of Eden Murphy, Chairman and CEO of Shell Egypt and Sami Iskander, Executive President for Middle East’s Joint Ventures. Both parties discussed ways to support and promote investment opportunities in fields of oil-and-gas prospecting, exploration and production and reviewed implementation of the projects currently carried out by Shell in Egypt. The minister noted that Shell Global is one of major companies that have been operating in oil-and-gas prospecting and exploration and in Egypt for a long time and have managed to achieve many successes and discoveries. He also noted that Shell has increased its investments in its concession area located at the Western Desert during the last fiscal year by 15% to reach $450 million $ 450 million.
Moreover, Shell has acquired British giant BG Group in the Mediterranean Sea area and this acquisition confirms Shell’s commitment and strong desire to increase its investments in Egypt in addition to its distinct activities in prospecting and exploration and first shale gas production in the Western Desert area, Egypt.
For its part, Andy Brown stressed that investment opportunities in the Egyptian market are still promising particularly following the latest discoveries in the Mediterranean Sea area.
