Egyptian President Abdel Fattah El Sisi said Egypt looks forward to enhancing the existing co-operation with the Global energy giant British Petroleum (BP) in green hydrogen production.
Sisi made the remarks during his meeting on Monday with CEO of BP Murray Auchincloss, in the presence of Prime Minister Mostafa Madbouli, Petroleum Minister Tareq el-Molla and Nader Zaki, the BP’s regional president for the Middle East and North Africa, said Presidential Spokesman Ahmed Fahmi.
The meeting was held on the sidelines the seventh edition of Egypt Energy Show (EGYPES 2024) at Al Manara International Conference Center in New Cairo.
During the meeting, the president highly praised the British company’s growing investments in Egypt and its oil and gas exploration projects that are aligned with the State’s efforts aimed at transforming Egypt into a regional hub for energy trade.
President Sisi also lauded the BP’s activity in clean energy transition and emissions reduction.
On his part, Auchincloss commended Egypt’s balanced approach to developing the energy sector and accelerating transition to clean energy.
The BP’s CEO said the company plans to inject up to USD 1.5 billion in exploration activities in Egypt within the next years, with the potential of pumping further investments worth nearly USD 5 billion.
In this regard, Auchincloss stated the BP seeks to maximize the benefit from the current facilitation on oil and gas exploration activities in land and sea areas to speed up development and production plans to meet the growing demand of the local market and to support the State’s endeavors to export the surplus of energy.
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