During the “EGYPS 2024” conference, President Abdel Fattah el-Sisi met with BP’s CEO Murray Auchincloss, alongside Prime Minister Dr. Mostafa Madbouly, Minister of Petroleum and Mineral Resources Tarek El Molla, and BP’s Regional President for the Middle East and North Africa, Nader Zaki.
Presidential spokesperson Dr. Ahmed Fahmy reported that President Sisi commended BP’s significant investments and exploratory projects in Egypt’s gas and oil sectors, aligning with Egypt’s ambition to become a regional energy hub. The President underscored Egypt’s commitment to facilitating the operations of global and private sector companies in this domain.
President Sisi also praised BP’s efforts in clean energy transition and emissions reduction, highlighting the alignment of visions between Egypt and BP, particularly in green hydrogen production to maximize national benefits for current and future generations.
BP’s CEO expressed pride in meeting President Sisi, reflecting the deep strategic partnership between Egypt and BP over decades. He lauded Egypt’s balanced approach to energy sector development and clean energy transition, utilizing Egypt’s vast potential in this area, which motivates BP’s extensive partnership with Egypt, one of its largest investors in the energy market.
Auchincloss reaffirmed BP’s commitment to continuing its investments in gas and oil exploration in Egypt, prioritizing the country for exploration to leverage terrestrial and maritime facilities for accelerated development and production plans. This aims to meet the growing domestic demand and support Egypt’s efforts to export surplus energy. BP plans to inject new investments of up to $1.5 billion in development and exploration activities in the coming years, with the potential for an additional $5 billion in investments.
