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US companies to participate in EGYPS 2020 - Daily News Egypt

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US companies to participate in EGYPS 2020

Egypt offers exciting opportunities for US companies, says amb. Cohen

American companies will participate in Egypt Petroleum Show (EGYPS 2020) from 11 to 13 February 2020 at the Egypt International Exhibition Centre, a source at the US embassy in Cairo told Daily News Egypt.

US Commercial Service team will be at the US pavilion to meet US companies and assist them in exploring the Egyptian market as well as meeting local companies to introduce them to American technologies and solutions, the source said.

EGYPS 2020 will witness the representation of 15 countries, more than 450 exhibiting companies will be present at the event while 30,000 participants are expected to attend, according to EGYPS2020’s website.

EGYPS’s international country pavilions play a key role in enhancing bilateral trade, creating the opportunity for dialogue and long-lasting agreements, and showcasing the importance of EGYPS for the region’s oil and gas industry.

Moreover, ExxonMobil and Egypt’s Ministry of Petroleum and Mineral Resources signed two new agreements in January 2020, for the exploration and production of oil and natural gas in the Mediterranean region.

Deputy Chief of Mission at the US embassy Dorothy Shea attended the signing ceremony and witnessed the finalisation of these important agreements. Upon the agreement, ExxonMobile secured more than 1.7 million acres for exploration offshore Egypt.

As the Egyptian economy grows, opportunities for US investments grow, US ambassador to Egypt Jonathan Cohen told Daily News Egypt on 28 January 2020, on the sidelines of his participation at an event organised by the American Chamber of Commerce (AmCham).

US companies are keen on attending several economic shows in Egypt, Cohen said, noting that energy is one of the most promising sectors, not just in Egypt, but across the Eastern Mediterranean region.

The recent announcement by Egypt and Israel of gas deliveries via the East Mediterranean Gas pipeline is historic. The ambassador congratulated, “Noble Energy for their part in this success story. ExxonMobil and Chevron are entering Egypt’s dynamic upstream market.”

Apache Corporation remains one of the largest investors in the country. The ambassador noted that Egypt also offers exciting opportunities for US companies in its growing renewable energy sector.

Topics: EGYPS US

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