ExxonMobil mulls expansion in Egypt

ExxonMobil is considering expanding in the Egyptian markets soon, said Egyptian Prime Minister Mostafa Madbouly on Monday.

The announcement was made after a meeting between the PM and the US-based ExxonMobil’s Senior Vice President Loic Vivier.

Egypt’s Minister of Petroleum and Mineral Resources Tarek El-Molla was also present in the meeting.

El-Molla said that production from an oil exploration well in Egypt owned by the firm is expected to start within a few months.

Vivier highlighted that the company has remarkable investment plans in Egypt.