Shell Egypt participates in Egypt's Virtual Week

Cairo : Shell Egypt participated in a panel discussion this week entitled, "FUTURE OF OIL & GAS; CHALLENGES AND OPPORTUNITIES". This session is part of Egypt’s Virtual Week activities, which takes place from 9-12 November 2020. The session was attended by H.E. Dr. Tarek El Molla Egyptian Minister of Petroleum and Mineral Resources, as well as select leaders and heads of various international companies operating in the petroleum sector in Egypt.

Egypt’s Virtual Week aims to discuss the country's approach of moving towards a green economy, in all sectors. This approach confirms Egypt’s commitment to achieving the United Nations' Sustainable Development Goals (SDGs), which simultaneously come in line with Egypt’s 2030 vision. This virtual week was organized by the British Egyptian Business Association (BEBA), together with the Egyptian-British Chamber of Commerce, in cooperation with The Ministry of International Trade, as well as the Egyptian Embassy in the United Kingdom.

Additionally, present during Egypt’s Virtual Week were Dr. Mostafa Madbouly, Prime Minister of Egypt, the Ministers of Petroleum and Mineral Resources, Tourism, Planning and Economic development, International Cooperation, Finance, Communications and Information Technology, Transport, Trade and Industry, as well as the ambassadors of Egypt and Britain.

During his participation, Khaled Kacem, Vice President, Country Chairman and Managing Director of Shell Egypt, stated: “We, at Shell, believe that Egypt is a promising and fledging market that is full of economic potential. This conclusion is driven by the rapid growth of Egypt’s population, of around 100 million, as well as its strategic location that links the Middle East, Europe, Africa, and Asia. This makes Egypt an ideal trade hub. Not to mention its ability of implementing economic reform programmes that enabled the country to achieve economic stability and attract more investments further down the road.”

Regarding the energy sector, Kacem explained that the current period is witnessing unprecedented achievements that reflect reaping the benefits of the Egyptian strategy to bring about comprehensive development, at large, to all sectors. He added: "Shell has been a proud operator in Egypt for more than a century. We’re actually very proudly celebrating 110 years in Egypt next year in 2021. And we are also one of the very few integrated energy companies with presence in the full value chain, with activities integrating the upstream, midstream and LNG, trading and downstream, which contributed to strengthening our position as a major player in the Egyptian market.”

“When it comes to the company's performance, since 2018 our exploration acreage footprint (km2) has increased 12 fold with the award of new blocks in the Nile Delta, Red Sea and West Mediterranean.  This is part of Shell Egypt’s refocus strategy to best leverage our expertise in deep water and integrated gas value-chain to deliver the strongest added value to Egypt, and optimize our portfolio to ensure the company delivers a world class investment case,” Kacem added.

 Regarding Shell Egypt’s role in the occupational and environmental safety sector, Kacem stressed on the company's keenness to meet the need for more clean energy solutions in a safe, economic, environmental, and socially responsible manner. He added that attaining the previous goal will be fulfilled by limiting environmental impact pertinent to all the company’s operations and in the communities in which it operates. He also underscores the fact Shell Egypt relentlessly works on the safety of its employees and contractors. Kacem concluded his words by highlighting Shell’s implementation of “Goal Zero" principle of no harm to people and no leaks.

Finally, commenting on the company's performance, in light of the outbreak of the COVID-19 pandemic, Kacem stated that the spread of the virus has led to a change in the lives of citizens all over the world. He stressed that the company's strategy, as a responsible investor, aims to contribute to and support the countries in which it operates, and enabling them to overcome the health crisis and the associated economic ramifications. The company’s local contributions have reached around EGP 6 Million.

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Cautionary Note

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© Press Release 2020