ExxonMobil has won two blocks offshore Egypt, in the Nile Delta, covering more than 11,000 square km.
The company said the licences are still subject to government approval and signature.
ExxonMobil Egypt (Upstream) will hold the Masry and Cairo blocks, with 100% stakes. The company expects to begin exploration in 2023, it said.
“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.
“We look forward to working with the government to explore this frontier area, utilising ExxonMobil’s proven expertise and advanced technology”.
Exxon’s Egypt chairman Amr Abou Eita said the company looked forward to “continue to play a key role in the development of Egypt’s resources. “We value our collaboration with the Egyptian government and are excited about these new exploration opportunities.”
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