ExxonMobil Secures Exploration Rights In Egypt

The Egyptian government has assigned ExxonMobil oil and gas exploration rights to two offshore blocks in the outer Nile Delta, according to a company statement.

Report says the company’s Egyptian subsidiary will operate both blocks and hold 100% interest, with exploration activities expected to start this year.

Meanwhile, the awards for the blocks, which cover 11,000 square kilometres, are still subject to further government approvals.

REUTERS/Christopher Ojilere