A press release to Egypt Oil&Gas stated that Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, met with CEOs of major oil and gas companies on the sideline of the Egyptian-British business council meetings held in London.
During his meeting with BP’s CEO, Bob Dudley, El Molla reviewed BP’s work in the Egyptian oil and gas sector with focus on their activities in North Alexandria and Atoll fields with investment worth of $15b. BP’s work in Egypt represents 20% of the company’s total investments.
Meanwhile, Dudley praised the recent economic reforms in the country that played a role in boosting BP’s cash flow in Egypt’s energy sector. He added that 2017 and 2018 will witness the start of natural gas production in a number of major projects in Egypt, which will help in increasing production and will meet local demand. Dudley underpinned investment opportunities in light of the Egyptian strategy to turn Egypt into a regional energy hub.
El Molla further met with General Electric’s World Trade Manager, Cristiano Cecconi, and Manager of Governmental and Political Affairs in the European Union (UN) and UK’s Governmental and Political Affairs Manager, Krieg Jones. This is in addition to meeting with Bechtel’s Regional Manager in the Middle East, David Welch, Iraqi Oil Minister, Jabar Al Luaibi, and Libyan National Oil Corporation’s CEO, Mustafa Sanalla.