May 19, 2020

ExxonMobil strengthens its exploration portfolio in Egypt

Energy
LNG
Offshore
Leah Netabai
2 min
ExxonMobil strengthens its exploration portfolio in Egypt

ExxonMobil has acquired over 1.7mn acres for offshore exploration in Egypt, with operations set to commence this year.

Who is ExxonMobil?

With its ability to use technology and innovation to help meet the world’s growing energy needs, ExxonMobil is one of the largest publicly traded international energy companies. The company holds an industry leading inventory of resources and is a global leader in LNG projects.

What does the acquisition include? 

  • 1.2 mn acres in the North Marakia Offshore block, which is located five miles offshore in Egypt’s northern coast, the Herodotus basin.

  • 543,000 acres in the North East El Amriya Offshore block in the Nile Delta. 

ExxonMobil will operate both blocks, its operations will include the acquisition of seismic data and will commence as of 2020. In addition, the company will hold 100% interest in the awards.

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How does ExxonMobil benefit from the acquisition?

“These awards strengthen our exploration portfolio in the Eastern Mediterranean,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. “We look forward to working with the government and deploying our proven expertise and advanced technology.”

For more than 115 years ExxonMobil has been contributing to Egypt’s growth, with its latest acquisitions within the region. The company highlights that these awards reaffirm its commitments to “pursuing high-quality opportunities in the country,” said Hesham Elamroussy, chairman and managing director of ExxonMobil Egypt.

These awards will add upstream interest to ExxonMobil’s downstream presence within Egypt where it has been a leader for fuels, lubricants and specialist marketers since 1902.

For more information on business topics in the Middle East and Africa, please take a look at the latest edition of Business Chief MEA.

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Jun 14, 2021

5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly

Tapoly
Insurance
Leadership
Digital
Kate Birch
3 min
Heading up Europe’s first on-demand insurance platform for the gig economy, Janthana Kaenprakhamroy is winning awards and leading with diversity

Founder and CEO of award-winning insurtech firm Tapoly, Janthana Kaenprakhamroy heads up Europe’s first on-demand insurance platform for the gig economy, winning industry awards, innovating in the digital insurance space, and leading with inclusivity.

Here, Business Chief talks to Janthana about her leadership style and skills. 

What do you do, in a nutshell?

I’m founder and CEO of Tapoly, a digital MGA providing a full stack of commercial lines insurance specifically for SMEs and freelancers, as well as a SaaS solution to connect insurers with their distribution partners. We build bespoke, end-to-end platforms encompassing the whole customer journey, but can also integrate our APIs within existing systems. We were proud to win Insurance Provider of the Year at the British Small Business Awards 2018 and receive silver in the Insurtech category at the Efma & Accenture Innovation in Insurance Awards 2019.

How would you describe your leadership style?

I try to be as inclusive a leader as possible. I’m committed to creating space for everyone to shine. Many of the roles at Tapoly are performed by women and I speak at industry events to encourage more people to get involved in insurance/insurtech. Similarly, I always try to maintain a growth mindset. I think it’s important to retain values to support learning and development, like reliability, working hard and punctuality.

What’s the best leadership advice you’ve received?

Build your network and seek advice. As a leader, you need smart people around you to help you grow your business. It’s not about personally being the best, but being able to find resources and get help where needed.

How do you see leadership changing in a COVID world?

I think the pandemic has proven the importance of inclusive leadership so that everyone feels supported and valued. It’s also shown the importance of being flexible as a leader. We’ve had to remain adaptable to continue delivering high levels of customer service. This flexibility has also been important when supporting employees as everyone has had individual pressures to deal with during this time. Leaders should continue to embed this flexibility within their organisations moving forward.

They say ‘from every crisis comes opportunity’, what opportunities do you see?

The past year has been challenging, but it has also proven the importance of digital transformation in insurance. When working from home was required, it was much harder for insurers to adjust who had not embedded technology within their operating processes because they did not have data stored in the cloud and it caused communication delays with concerned customers at a time when this communication should have been a priority, which ultimately impacts the level of customer satisfaction. This demonstrates the importance of what we are trying to achieve at Tapoly in driving digitalisation in insurance and making communication between insurers and distribution partners seamless. 

What advice would you give to your younger self just starting out in the industry?

Start sooner, don’t be afraid to take (calculated) risks and make sure you raise enough money to get you through the initial seed stage.

 

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