Dr. Mostafa Madbouly, Prime Minister, met today at the government headquarters in the New Administrative Capital, Murray Auchincloss, CEO of British Petroleum (BP), and Mr. Nader Zaki, the company’s regional president for the Middle East and North Africa, in the presence of Eng. Karim. Badawi, Minister of Petroleum, Wealth and Minerals
At the beginning of the meeting, the Prime Minister welcomed Murray Auchincloss and his accompanying delegation to the Council of Ministers headquarters in the New Administrative Capital, noting that BP is a strategic partner of Egypt in the field of oil and gas production.
Dr. Mostafa Madbouly expressed his appreciation for the company’s work in the Egyptian market, explaining that the company has been operating in Egypt for 60 years, during which it was able to pump cumulative investments that exceeded 30 billion dollars.
The Prime Minister explained that in addition to the important projects the company has implemented in the Egyptian market over these years, the company has an ambitious plan to explore oil and gas from 6 concession areas in Egypt, which gives us confidence and hope in achieving more discoveries during the coming period.
Dr. Mostafa Madbouly thanked the officials of the British Petroleum Company for its continued commitment to investing and working in Egypt despite all the challenges and difficulties that the Egyptian economy has suffered over the past years, stressing at the same time that the Egyptian state is committed to supporting the oil and gas sector and the companies operating in it, pointing out In this regard, we refer to the incentive package announced by the Minister of Petroleum and Mineral Resources to support increasing oil and gas production in Egypt.
The Prime Minister expressed his aspiration for further cooperation with the British company BP in the coming years.
In turn, Murray Auchincloss said that BP was and remains a committed partner when it comes to pumping investments into Egypt, even in the difficult times that the Egyptian market has witnessed over the past years, explaining that the company has been operating in Egypt for more than 60 years.
Auchincloss stressed his aspiration to strengthen the partnership with the Egyptian government, with his belief that Egypt possesses many oil and gas resources. In this context, he reviewed the company’s ongoing efforts to achieve more discoveries from its concession areas, explaining that this would provide more of the required supplies. In the local market.
The CEO of British Petroleum reviewed the promising investment opportunities that the company is working on in a number of its concession areas during the period from 2025 to 2027.
Auchincloss thanked the Prime Minister for starting to pay the company’s dues, and expressed his aspiration to quickly pay the remaining dues during the coming period.
In response, the Prime Minister stressed the speed of work to pay the remaining dues to the British company.
The company’s CEO also reviewed plans to start production from a number of wells in which the company operates, one of which will begin production during the first quarter of next year.
During the meeting, Engineer Karim Badawy, Minister of Petroleum and Mineral Resources, discussed with BP officials efforts to accelerate the pace of production and time plans to start production from a number of wells and fields in the British company’s concession areas.
