Download logoToday, President Abdel Fattah El-Sisi met with Chief Executive Officer of Apache Corporation, John J. Christmann. The Executive Vice President and Chief Financial Officer of the American petroleum and natural gas exploration and production company also attended the meeting, along with Minister of Petroleum and Mineral Resources, Eng. Karim Badawi.
Spokesman for the Presidency, Counselor Dr. Ahmed Fahmy, said the meeting reviewed and followed-up on Apache's activities in Egypt. This included its plans to expand and increase the size and scope of its business, building up on the fruitful cooperation between Egypt and Apache in the fields of search and exploration as well as oil and gas production, with a view to leveraging Egypt's resources in the energy sector.
President El-Sisi lauded the company's successes in Egypt over the past three decades. He also valued the company’s plans to expand its operations in Egypt, in line with the highest international standards. President El-Sisi emphasized the state's commitment to enhancing and increasing investments in the energy sectors to meet Egypt's growing needs in this regard.
Apache's CEO expressed appreciation for the distinguished partnership with Egypt. As one of the largest investors and producers of oil in Egypt, Mr. Christmann affirmed the company's aspirations to boost production rates in the upcoming period, given the availability of ample opportunities for new discoveries. He also highlighted the company's commitment to developing and employing cutting-edge technologies so as to improve energy efficiency and reduce emissions from production operations.
The meeting also discussed ways to strengthen economic cooperation between Egypt and the United States, given Mr. Christmann 's chairmanship of the Egyptian-U.S. Business Council and Egypt's keenness on providing a conducive environment to attract and increase investments and to facilitate the business of the Egyptian and foreign private sectors across various fields.
Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.
