Geological studies and evaluations, as well as the development of technologies used in exploration and production (E&P), prove that Egypt has a promising future in the E&P field, BP’s Chief Operating Officer (COO) Strategy and Regions, Andy Hopwood, stated, adding that BP is committed to implementing its investment plans in the Egyptian oil and gas sector as the country is one of the most important countries for BP, Egypt Oil & Gas reports.
Hopwood’s comments came during his meeting with the Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, in attendance of Regional President of BP in North Africa, Hesham Mekkawy, and a BP delegation headed by Hopwood in order to review the status of the company’s oil and gas projects implemented in the Gulf of Suez, the Nile Delta, and the Mediterranean, as well as the development projects in these areas.
The meeting witnessed a broad understanding of BP’s strategy to inject new investments in a number of projects related to fields’ development and production increase, which is one of the main pillars of the sector’s Modernization Program, El Molla pointed out, praising the depth of the relationship between BP and the ministry. He also noted that BP will be contributing in Egypt Petroleum Show (EGYPS 2018).
The meeting included reviewing new investment opportunities and Egypt’s oil and gas regional trading hub plan.