The Minister of the Petroleum and Mineral Resources, Tarek el Molla, met BP’s new CEO, Bernard Looney, who will assume his position in 2020 instead of Bob Dudley, to discuss BP’s activities in Egypt, the development of new natural gas projects, and the company’s future plans, according to press release.
The meeting was in the presence of BP’s Chief Executive of Operations, Exploration and Research, William Lane, and Regional President of BP in North Africa and the Middle East, Hisham Mekawy, and BP’s Chairman in Egypt Karim Alaa.
The minister also discussed the available investment opportunities in Egypt as there are different attractive fields which help in supporting the cooperation between the Egyptian petroleum sector and BP in the coming phase.
He added that the talks included how to exchange expertise for better efficiency performance as well as middle management training.
Looney highlighted BP’s achievements in Egypt since it started its operations in theEgypt, praising the positive cooperation with the Egyptian Petroleum sector and the attractive investment atmosphere in Egypt, which help in increasing the rate of natural gas production.
He confirmed that BP is committed to expanding its operations in Egypt and pumping more investments, adding that the success of North Alexandria and Atoll fields push for more developments.
Looney praised Egypt’s role in establishing the East Mediterranean Gas Forum (EMGF), which contributed to boost the cooperation between its countries.