BP is set to expand its presence in Egypt by exploring new oil and natural gas opportunities across six concessions, according to Egyptian Prime Minister Mostafa Madbouly.
The announcement came during a meeting with BP’s CEO, Murray Auchincloss, where the company reaffirmed its long-term commitment to the country.
Madbouly highlighted BP’s 60-year history of operations in Egypt, during which the company has invested a total of $30 billion in developing its energy sector.
At the meeting, Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, and BP officials discussed strategies to accelerate production from several wells and fields within BP’s concession areas.
BP CEO Murray Auchincloss also revealed that production from a key well is slated to commence in the first quarter of 2025, signaling progress in the company’s efforts to boost energy output in Egypt.
