Egypt - Chevron Corporation, the US-based multinational energy corporation, is planning to pump new investments into Egypt’s gas and oil exploration sector, Egyptian petroleum minister Tarek El-Molla announced in a statement.

The American company is currently carrying out oil and gas exploration projects across four areas in Egypt as the main operator, with up to $360 million in investment, El Molla said.

These projects are located across the Mediterranean and the Red Sea in North Sidi Barrani, the north of El Dabaa, Narges El Baharya, and Block No.1 at the Red Sea, the minister added.

Moreover, Chevron is investing in another two projects, namely North Marina and North Cleopatra, in the west Mediterranean as a partner to Shell Global, he highlighted.

This came on the sidelines of a meeting headed by El-Molla to welcome a delegate from Chevron to discuss the global company’s plan in the Egyptian oil and gas exploration sector over the coming period.

 

 

Copyright © 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.