Total’s Senior Vice President for Africa, Stanislas Mittleman, stated that the company will invest $100m in Egypt within the upcoming five years. The company will also invest additional amounts on filling stations as it aims to open 10 facilties per year, reported Al Mal News.
Mittleman added that Total invested huge amounts lately in Borg El Arab factory for lubricant and exported part of its production to Jordan, Lebanon and African countries. Furthermore, Mittleman had met with the Egyptian Minister of Petroleum, Tarek El Molla, along with Total’s Managing Director in Egypt, Ian Lepetit, to overview the company’s projects in Egypt.
El Molla stated that Total is a leading company in Egypt in marketing petroleum products, establishing filling stations, and manufacturing lubricant. It is noted that Total is investing in Egypt’s natural gas exploration and discoveries. The company signed an agreement in 2015 to explore in Delta Nile through a tender that had been launched by the Egyptian Natural Gas Holding Company (EGAS).