{"id":2080,"date":"2017-12-04T20:44:49","date_gmt":"2017-12-04T21:44:49","guid":{"rendered":"https:\/\/madaresharghi.com\/exxon-mobil-eyes-egypts-offshore-energy-assets\/"},"modified":"2017-12-04T20:44:49","modified_gmt":"2017-12-04T21:44:49","slug":"exxon-mobil-eyes-egypts-offshore-energy-assets","status":"publish","type":"post","link":"https:\/\/madaresharghi.ir\/en\/exxon-mobil-eyes-egypts-offshore-energy-assets\/","title":{"rendered":"Exxon Mobil Eyes Egypt's Offshore Energy Assets"},"content":{"rendered":"

madaresharghi<\/a>
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\tExxon Mobil is considering a foray into Egypt’s offshore oil and gas, seeking to replicate rivals\u2019 success in the country and boost its reserves, officials and industry sources said.
\tOfficials from the world\u2019s largest listed oil producer recently held talks with Egypt\u2019s Petroleum Ministry to discuss investments in oil and gas production, known as upstream operations, Petroleum Minister Tarek El Molla told Reuters.
\t\u201cWe have been discussing with them, visiting them. They\u2019ve visited us … We are exploring all opportunities for having more and further upstreamers in Egypt,\u201d Molla said on the sidelines of an OPEC meeting in Vienna.
\t\u201cI would be happy to have them with us,\u201d he said, adding that no decision has been made yet.
\tExxon declined to comment. The Irving, Texas-based company currently has no upstream operations in Egypt, according to its website. The company is looking at exploring the eastern Mediterranean offshore basin, according to industry sources.
\tItaly\u2019s Eni this month is set to begin producing gas from the Zohr field in the Mediterranean, among the country’s biggest discoveries of the past decade.
\t\u201cAfter Zohr, there was a reassessment of the portfolio profitability in Egypt\u201d by Exxon, one source said, adding that Exxon was looking for \u201ctier one assets\u201d with significant potential.
\tExxon is also considering opportunities in the Red Sea, where Cairo is preparing to tender exploration blocks, industry sources briefed on the matter told Reuters.
\tEgypt in 2016 had reserves of 3.5 billion barrels of oil and 1.8 trillion cubic meters of gas, according to BP\u2019s Statistical Review of World Energy. Egypt has recently ramped up efforts to attract foreign investment in its oil sector to boost its struggling economy.
\tAlong with Eni, BP and Royal Dutch Shell also have significant operations in Egypt in offshore gas production, which is consumed domestically although Cairo aims to become a gas exporter. Exxon like many rivals has curbed spending to ride out a sharp fall in oil prices in mid-2014.
\tWith its reserves slipping, Exxon CEO Darren Woods, who took over at the beginning of the year, has gone shopping. Woods has spent or authorized more than $10 billion in investment in the Permian Basin, the largest US oilfield, and in offshore Guyana.<\/p>\n","protected":false},"excerpt":{"rendered":"

madaresharghi Exxon Mobil is considering a foray into Egypt’s offshore oil and gas, seeking to replicate rivals\u2019 success in the country and boost its reserves, officials and industry sources said. Officials from the world\u2019s largest listed oil producer recently held talks with Egypt\u2019s Petroleum Ministry to discuss investments in oil and gas production, known as […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,8],"tags":[296,118,28,31,159,639,178,56,213,84,95,82,68,22,23,27],"yoast_head":"\nExxon Mobil Eyes Egypt's Offshore Energy Assets - madaresharghi | An Analytical Look at Middle Eastern Developments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madaresharghi.ir\/en\/exxon-mobil-eyes-egypts-offshore-energy-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exxon Mobil Eyes Egypt's Offshore Energy Assets - madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"og:description\" content=\"madaresharghi Exxon Mobil is considering a foray into Egypt’s offshore oil and gas, seeking to replicate rivals\u2019 success in the country and boost its reserves, officials and industry sources said. 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