Egypt’s President Abdel Fattah El Sisi on Monday lauded the significant and evolving investments of British Petroleum (BP) oil and gas company in Egypt as well as its key contributions to oil and gas exploration and production operations.
Such contributions reinforce the petroleum sector in a crucial way and boosts efforts meant to turn Egypt into a regional hub for energy production and its trade, the president added.
This came during president Sisi’ meeting with British Petroleum CEO Bernard Looney, in the presence of Minister of Petroleum and Mineral Resources Tarek el Molla and BP’s regional president for Middle East and North Africa Nader Zaki.
During the meeting, the president asserted the great importance state attaches to maintaining the participation of the international companies and private sector in the sectors of oil, gas and renewable energy.
The president expressed willingness to promote cooperation with BP in the fields of decarbonization, energy transformation and producing green hydrogen in order to increase explorations and output, along with maximizing utilization of state’s resources.
Meanwhile, BP head expressed appreciation for the meeting with president Sisi, highlighting the cruciality of strategic partnership with Egypt that extends through 60 years.
Looney reviewed BP’s investment plan with its partners in Egypt throughout the next three years in the domains of research, exploration and development, with a total cost of dlrs 3.5 billion.
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