Minister of Petroleum and Mineral Resources Karim Badawi has met with bp’s Executive Vice President William Lane, along with his delegation in New Alamein City with whom he reviewed bp’s activities in Egypt, which encompass exploration, and production of natural gas.

The meeting also delved into the new work plans of bp’s upcoming drilling projects in its concession areas within Egypt’s Mediterranean region.

At the beginning of the meeting, Badawi expressed his appreciation for bp’s pivotal role in developing Egypt’s energy resources and its commitment to positively contributing to the country’s energy system. He commended the company for its professional management of its investments and operations.

The minister highlighted the necessity of intensifying cooperation between the petroleum sector and bp to fulfill the ultimate goal of increasing Egypt’s energy resources. In this regard, he emphasized the need for expediting the development of bp’s fields and bringing them into production utilizing cutting-edge technologies.

The minister also called upon bp to accelerate exploration activities to bolster reserves for the mutual benefit of the two sides.

The new government is open to creating an attractive investment climate and a successful work environment for foreign investment by eliminating obstacles and motivating investors as Badawi indicated.

He affirmed that his ministry seeks to offer attractive investment opportunities in the field of oil and gas exploration and professional marketing for them through Egypt Upstream Gateway (EUG), which provides easy and quick access to new opportunities and their data.

For his part, the Executive Vice President of bp congratulated Badawi for his appointment as the new Minister of Petroleum and Mineral Resources and affirmed his company’s commitment to its work in Egypt, with sincere eagerness to enhance its projects through the distinguished partnership and relations that connected bp with the Egyptian petroleum sector.

The meeting reviewed bp’s ongoing plan to drill two new gas wells and its expanded exploration drilling projects for gas in the Mediterranean Sea, including the seismic survey activities in its new concession areas, and increased operations in the Atoll field.

The company also highlighted its onshore activities in the Delta region to enhance gas resources by cutting production costs and optimizing utilization of the existing infrastructure, thereby increasing economic feasibility and reducing costs.

The meeting also dealt with means of promoting Egypt’s significant role as a regional energy hub by utilizing its advanced infrastructure, strategic location, and surplus storage capacities which gives it a special privilege over other competitors.