Egypt’s untapped opportunities could help offset market uncertainties: Shell MD

SectorFinancial Markets

Egypt has many opportunities that with effort could develop into upstream projects that are resilient to fluctuations and uncertainty in the market amid the Covid-19 crisis, according to Khaled Kacem, country chairman and managing director of Shell companies in Egypt. Kacem made his comments during a roundtable held Sunday virtually to discuss ways to increase investments in Egypt’s brownfields. Brownfields are oil or gas accumulations that have matured to a production plateau or even progressed to a stage of declining production. The event was held under the patronage of Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla. Kacem emphasised the substantial potential for optimising operating costs, with key focus areas that include improving the commerciality of work executed by vendors, introducing more competition and better contract management, more...