January 30, 2011 / 3:25 PM / 8 years ago

Factbox: Major foreign companies operating in Egypt

CAIRO (Reuters) - President Hosni Mubarak, clinging to power despite unprecedented demands for an end to his 30-year rule, met on Sunday with the powerful military widely seen as holding the key to Egypt’s future.

If Mubarak clings to power, investors will reprice Egyptian and regional assets to brace for weeks, months or possibly years of heightened political risk.

Below is a list of foreign companies operating in Egypt:

OIL/GAS FIRMS:

* BP — has invested over $17 billion in Egypt, with an annual investment of $1 billion since 2007.

BP and partners have produced more than 40 percent of the country’s domestic gas and has produced almost 40 percent of Egypt’s entire oil production.

* ENI: — has been operating in Egypt for 50 years, working in oil and gas exploration and production through branches of its subsidiaries Ieoc Exploration, Ieoc Production, and Ieoc.

Eni holds a 50 percent stake in Union Fenosa Gas that has passed to the Egyptian affiliate, the Spanish Egyptian Gas Company - SEGAS, the responsibility for the construction and operation of the liquefied natural gas (LNG) plant within the port area of Damietta.

* APACHE — Apache is the largest producer of liquid hydrocarbons and natural gas in the Western Desert and the second largest in Egypt. Apache’s production is operated under two joint ventures, Khalda and Qarun Petroleum Company.

* BG Group — has played a leading role developing Egypt’s natural gas industry and is responsible for over 35 percent of all gas produced in Egypt. The British gas company’s activities in Egypt span the gas chain from exploration, through development and production, to LNG.

* BANKS:

* Barclays — Barclays Bank Egypt has been present in the Egyptian market since 1864. Barclays re-entered Egypt 30 years ago as a joint venture company with Banque du Caire with Barclays increasing its shareholding equity to 60 percent in 1999 and 100 percent in 2004. It has 65 branches in Egypt.

* BNP Paribas — In Egypt since 1977.

* HSBC — HSBC Bank Egypt was established in 1982 as Hong Kong Egyptian Bank. The bank was rebranded HSBC Bank Egypt in April 2001 following an increase in parent HSBC’s shareholding to over 90 percent of its issued share capital from 40 percent.

* Societe Generale — Last November, Bernardo Sanchez Incera, deputy chief executive for international retail banking at SocGen said the French bank was interested in acquisition opportunities in Egypt and would keep its growth strategy organic in other areas where it is already present.

* Bank Audi

* BLOM Bank

* Citibank

* Credit Agricole

* Intesa Sanpaolo SpA

* MashreqBank

* Piraeus

OTHER FIRMS:

* Carrefour — Europe’s biggest retailer started in Egypt in 2002. Since government reform in 2004, the retail sector’s contribution to GDP doubled to $19.5 billion in 2009.

* France Telecom — Egyptian mobile operator Mobinil, jointly owned by France Telecom and Cairo-based Orascom Telecom, is to employ new mobile services in 2011 to help boost profit margins in an increasingly crowded market, chief executive Hassan Kabbani said last week.

Mobinil, which leads Egypt by subscribers, sees an increase in 2011 revenues per user thanks to technology such as mobile banking, cell phone data services and text messaging.

* Nestle — said this month it would invest 1 billion Egyptian pounds ($171 million) in its existing factories and distribution centres in Egypt, creating 500 new jobs in addition to its 3,000 strong workforce. The three year investment, follows investments totaling 170 million Swiss francs ($180 million) in Egypt in the past ten years.

* Vodafone — it and other mobile telecoms operators were told by Egyptian authorities to suspend services in selected areas of the country on Friday. Mobile phone services started to resume across the Egyptian capital on Saturday.

* Etisalat — Emirates Telecommunications Company

SOURCES: Reuters/Company websites

Writing by David Cutler, London Editorial Reference Unit, and Cairo newsroom; Editing by Dan Lalor

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below