Energy

Egypt continues to strive, not just for energy independence, but to return to its status as a regional exporter. With oil and gas fields in the Gulf of Suez, the Mediterranean Sea and the Western Desert, the country has been a site of energy exploration since the early 20th century. With recent discoveries of major natural gas deposits as well as continued exploration announcements, a low-cost operating environment and the anticipation of steady, even rising, global oil prices, Egypt has its sights set on increased petroleum production to meet growing local energy demand, as well as for export growth to acquire much-needed foreign currency.

This chapter contains interviews with Tarek El Molla, Minister of Petroleum and Mineral Resources; Claudio Descalzi, CEO, Eni; Hesham El Amroussy, Chairman and Managing Director, ExxonMobil Egypt; and Walid Sheta, Cluster President for North-east Asia and Levant, Schneider Electric.