MAPPING A FUTURE OF GREENER GROWTH IN ENERGY MARKETS

focused on realization. Alone, nobody wins the transition,” he remarked.

Nargis Discovery: A Milestone in Joint Collaboration

In addition to the insightful discussions of the Strategic Conference, the attendees enjoyed an intellectually stimulating experience while following up the exclusive conversation with Clay Neff, President of Chevron International Exploration & Production, gaining first-hand insights on diverse topics.

The recent announcement of the significant gas discovery in the Nargis Block Offshore Egypt has been making headlines, taking into consideration its considerable contribution to the company’s already significant gas resources in the Eastern Mediterranean. In this regard, Neff praised the great work that the exploration team has done, along with Chevron partners and the Egyptian government. “It is a very attractive discovery,” he said proudly.

In a related context, Neff said that the discovery is now being evaluated. “We are going to figure out how we will commercialise it ...I guess … in the near future. Our goal is to certainly get it to market as safely and quickly as possible.”

Neff, in the meantime, highlighted the strong partnership with Egypt,

Ministerial Interview referring to the 84-year history in Egypt dating back to 1937. “Egypt is a very important part of Chevron’s portfolio globally,” he added.

During the interview, Neff shed light on the considerable contributions of Chevron’s two assets: Tamar and Leviathan, describing it as a ‘big business’.

“We also have the discovered resource in Cyprus and we are working with the Cypriot government and our partners to develop. We are actually getting ready to drill another well in the upcoming months in block 12 in the Aphrodite area.”

Further enriching the conversation, Neff tackled the potential of the East Mediterranean, describing it as ‘prolific basin’.

“There is more gas to be found. There is enough gas that should make its way into Europe, and the rest of the globe as well over time,” he said with enthusiasm.

Neff also praised the leadership of Egyptian President Abdel Fattah El Sisi and Petroleum Minister Tarek el-Molla in bringing together all stakeholders and countries, paving the way for further collaboration.

The conversation also shed light on the crucial role of natural gas in supporting energy security and energy transition.