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

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

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,