Shell investments in Egypt’s Western Desert oil fields hit $450m in 2015
The Royal Dutch Shell raised its investments in concession areas at Egypt’s Western Desert by 15 percent to US$450 million in 2015, Egyptian Oil Minister Tarek El-Molla stated Wednesday.
He made these remarks during his meeting with a mission from the British firm on enhancing available investments in gas and oil exploration and production fields.
The mission included Eden Murphy -Chairman and CEO of Shell-, Andrew Brown -Upstream Director of Royal Dutch Shell plc.-, and Sami Iskander – Executive Vice President, Joint Ventures at Shell.
During the meeting, both Egyptian and British sides showcased the current projects that Shell executes in Egypt.
El-Molla pointed out that acquiring BG Group business in the Mediterranean Sea emphasises Shell’s commitment and strong keenness to hike its investments in Egypt.
On other side, Brown asserted that investments opportunities in the Egyptian market are prominent notably after the recent gas discoveries made in the Mediterranean Sea and the Western Desert.
