ExxonMobil said it has secured exploration rights to two blocks, Masry and Cairo, offshore Egypt.
The blocks, which are located in the outer Nile Delta, cover more than 11,000 square kilometers, according to a statement by the company.
Exploration activities are scheduled to begin in 2023, subject to signature of the concession agreements. The awards are subject to governmental approval of the concession agreements covering the blocks, and their signature in due course.
ExxonMobil Egypt (Upstream) Limited will operate both blocks and hold 100 per cent interest.
“The addition of these blocks will further strengthen ExxonMobil’s exploration portfolio in Egypt and the East Mediterranean,” said ExxonMobil Vice President of Global Exploration John Ardill.
“Building on our successful business and strong partnership in Egypt’s growth, ExxonMobil looks forward to continue to play a key role in the development of Egypt’s resources,” said Chairman & Managing Director for ExxonMobil Egypt Amr Abou Eita.