Egypt, Shell discuss scaling up oil, gas projects

Egyptian President Abdel Fattah El-Sisi met with Shell CEO Wael Sawan on Thursday to discuss expanding the company’s operations in Egypt and deepening cooperation in the country’s oil and gas sector, the presidency said in a statement.

The president welcomed Shell’s longstanding partnership with Egypt, praising its contributions to the petroleum industry and reaffirming the government’s commitment to supporting foreign investment. He emphasised ongoing efforts to improve the investment climate, including addressing challenges facing international companies and ensuring the timely payment of outstanding dues.

“The president encouraged Shell to intensify exploration and development activities in its concession areas to help increase production and unlock the full potential of Egypt’s energy resources,” the statement read.

Sawan reaffirmed Shell’s commitment to its strategic partnership with Egypt and expressed interest in expanding the company’s footprint in what he described as a promising energy market. He also praised the government’s continued support in facilitating investment and removing obstacles.

The meeting was also attended by Prime Minister Moustafa Madbouly, Petroleum Minister Karim Badawy, and Shell Egypt Chairwoman Dalia ElGabry.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser