Thursday 21 Nov
Engineer Karim Badawy, Minister of Petroleum and Mineral Resources, met with Engineer Nader Zaki, Regional President of British Petroleum (BP) in the Middle East and North Africa, and Engineer Wael Shaheen, Regional Vice President of BP Egypt. The meeting focused on strengthening collaboration between the Egyptian government and BP to drive investment in the petroleum industry and boost production.
During
the meeting, Engineer Karim Badawy was briefed on BP's upcoming work program in
Egypt. The program focuses on accelerating exploration, production, and field
development in the Mediterranean, aiming to gradually increase production
rates.
The minister emphasized the government's full
support for BP's plans to increase production and its commitment to supporting
the company's operations in Egypt as a key partner in discovering and
developing Egypt's natural gas resources. The government is actively working to
create an attractive investment climate and encourage international companies
to explore and produce oil and gas in Egypt, contributing to increased domestic
production and reduced import dependency.
Engineer
Nader Zaki, Regional President of BP in the Middle East and North Africa,
reaffirmed the company's commitment to implementing exploration programs and
drilling new wells in its concession areas in the Mediterranean. He highlighted
the importance of joint cooperation with the petroleum sector to support these
efforts and noted the progress of the ongoing project to drill two new wells to
produce natural gas from the Raven offshore field, west of the Nile Delta. This
$200 million investment is expected to yield 200 million cubic feet of gas per
day, contributing to the development of natural gas resources in the
Mediterranean.
The meeting also explored new opportunities for research and exploration for natural gas through a new global bidding round presented by the Natural Gas Holding Company (EGAS) via the Egypt Digital Exploration and Production Portal. This platform provides companies and investors with information about the offered areas and facilitates their participation.
