Egypt Investor Testimonials
Apex International Energy
Apex International Energy ("Apex") is an Exploration and Production (E&P) start-up company focused on Egypt. The company, formed in April 2016, has an initial line of equity from US-based private equity firm Warburg Pincus of USD 500 million. The Apex team has over 125 years of combined experience in Egypt and 275 years of industry knowledge. Apex has made commitments to the government of Egypt to invest USD 27.4 million for two recent concession blocks awarded by EGPC in December 1, 2016. Apex is also working on the potential acquisition of producing properties. Presently, Apex has 22 full-time employees equally divided between offices in Houston and Cairo. Egypt has the right ingredients for building a meaningful business of scale; proven hydrocarbons, Production Sharing Contracts that have the force of law, and hard-working, well educated people.
Thomas M. Maher, President and Chief Operating Officer
"Our company has been operating for the last 18 years in the sector of energy distribution. The tremendous reform in the oil and gas sector over the past two years has transformed Egypt into an attractive destination for investments in exporting, producing as well as generating power. Our company has enjoyed a nice ride over the last two years with an annual income growth of 24%."
Khaled Abu Bakr, Executive Chairman
GE has a rich heritage of 40 years in Egypt, with partnerships in the energy, aviation, oil & gas, healthcare and transport sectors. GE Egypt currently employs over 700 staff members across the country and is working closely with the public and private sector as a technology and solutions partner to meet the country's most challenging energy needs in a reliable and efficient way, supporting the industrial and infrastructural building of Egypt. Today, over 140 GE advanced gas and steam turbines are installed in Egypt, generating 15.5 GW of power to the grid, enough to meet the electricity needs of more than 15 million homes across Egypt. In the end of 2016, GE Oil & Gas has announced the expansion of its services facility in Egypt with an additional 2,000 square meter in the industrial free zone to now reach a total of 5,000 square meter. The expanded facility will handle the assembly, disassembly, repair, maintenance and testing for GE Oil & Gas products locally in Egypt to serve both national and international oil and gas companies.
Ayman Khattab, President and CEO, North East Africa