BP Reaffirms Commitment to Egyptian Gas Exploration with Major Mediterranean Investment
UK-headquartered energy giant BP has reaffirmed its investment boost in natural gas exploration and production in the Mediterranean Sea off the coast of Egypt, signaling continued confidence in the region’s hydrocarbon potential. The commitment came during a high-level meeting between Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, and BP’s regional leadership team.
Nader Zaki, Regional President of BP for the Middle East and North Africa, and Wail Shaheen, BP’s Vice President in Egypt, reviewed the implementation status of the company’s projects in Egypt and discussed the firm’s investment plans for the upcoming period. The discussions highlighted BP’s position as one of the leading investors in gas exploration and production in the country.
BP confirmed its commitment to increasing investments and outlined an ambitious drilling program scheduled to begin in 2026. This program entails the drilling of new wells within its concession areas in the Mediterranean Sea, building on an agreement signed between both parties at BP’s global headquarters in London last September.
Badawi emphasized the significance of this program within the ministry’s strategy to maximize natural gas exploration activities. He added that the Egyptian government is keen to provide all necessary support to overcome any challenges that may arise during the drilling operations, demonstrating the country’s commitment to facilitating international energy investment.
Source: offshore-energy.biz
