ExxonMobil, a US multinational oil and gas corporation, announced on Tuesday that it has obtained exploration rights to two offshore blocks in Egypt’s outer Nile Delta, further strengthening its exploration portfolio in Egypt and the East Mediterranean.
The two offshore blocks – which are named Masry and Cairo – stretch over an area of 11,000 square kilometres, according to a statement by the US oil and gas company.
Exploration is expected to begin in 2023 after the government grants its final approval.
“The addition of these blocks will further strengthen ExxonMobil’s exploration portfolio in Egypt and the East Mediterranean,” the statement quoted ExxonMobil Vice President of Global Exploration John Ardill as saying.
“We look forward to working with the government to explore this frontier area, utilising ExxonMobil’s proven expertise and advanced technology,” he added.
The offshore blocks will be run and supervised by the upstream subsidiary ExxonMobil Egypt Limited, with 100 percent interest, said the statement.
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