Minister of Petroleum and Mineral Resources, Karim Badawi, recently held a meeting with a delegation from Chevron, one of the world’s leading energy companies, as part of ongoing discussions with investment partners in Egypt’s oil and gas sector, according to the Egyptian State Information Service.
The meeting focused on Chevron’s business plans for gas exploration and production in the Mediterranean region, with an emphasis on accelerating activities in its concession areas.
Minister Badawi acknowledged Chevron’s presence and continued investment in Egypt’s petroleum sector and reaffirmed the Egyptian government’s commitment to fostering investments that boost oil and gas production, accelerate the development of discovered fields, and expand research and exploration activities in new areas.
The discussions centred on Chevron’s concession areas in the Mediterranean, particularly the Narges area, where Chevron is working in collaboration with the Italian energy company Eni. Both companies are key players in advancing exploration and drilling efforts in the region.
The Chevron delegation was led by Frank Cassulo, Vice President of Chevron in Southeast Asia and Emerging Countries, and included Kristian Svendsen, Director of Research and Exploration at Chevron Egypt, and Anis Aboulnaga, Chevron Egypt’s Director of Marketing and Distribution of Petroleum Products.
Chevron has long played a part of Egypt’s energy sector, which began with the distribution of petroleum products. Since expanding its operations to include natural gas exploration in 2020, Chevron has aimed to play a pivotal role in unlocking Egypt’s gas potential, particularly in the Eastern and Western Mediterranean.
According to the Egyptian State Information Service, the meeting concluded with both sides expressing their shared commitment to expedite exploration and drilling programmes to fully capitalise on Egypt’s gas resources and enhance the country’s role in the global energy market.
