ExxonMobil spent $90 million on seismic research in Egypt for about 15 km in its concession area north of Marakia in the Western Mediterranean region.

The company plans to speed up drilling operations as soon as the driller arrives next October.

This came during the meeting between Minister of Petroleum and Mineral  Resources, Karim Badawi,  and a delegation from ExxonMobil Egypt led by Amr Abu Aita, the company’s Chairman and Managing Director.

 The minister of petroleum confirmed that the government is working to leverage these successes to achieve a sustained increase in production.

He pointed out the significant role that these partnerships can play in Egypt’s utilization of its diverse capabilities as a regional energy hub.

Badawi stated Egypt’s keenness to provide all forms of support to expedite drilling plans, highlighting the existing cooperation between the two sides, including the Cypriot side, and efforts to develop the Egyptian-Cypriot governmental agreement.

On his part, Abu Aita expressed the company’s strong desire to achieve success through its operational plans, which are always formulated based on specialized studies conducted continuously for its areas of operation.