Sisi lauds BP’s investments in Egyptian oil and gas sector

Ahram Online , Monday 19 Feb 2024

Egypt's President Abdel-Fattah El-Sisi met on Monday with BP CEO Murray Auchincloss on the sidelines of EGYPS 2024, where he lauded BP’s outstanding activities, the size and scope of its growing investments in Egypt, as well as its exploration projects in the oil and gas sector.


Egypt's President Abdel Fattah El-Sisi receives BP's CEO Murray Auchincloss in Cairo, 19 February 2024. Photo: Egyptian Presidency

 

According to the Egyptian Presidential Spokesman Ahmed Fahmy, El-Sisi also confirmed that BP’s activities are aligned with Egypt’s goal of transforming into a regional hub for energy production and trade.

Furthermore, El-Sisi underscored Egypt's commitment to facilitating the operations of international companies and the private sector in this domain, praising the company’s activities in the field of clean energy transition and emissions reduction, and affirming a strong convergence of views on the issue of a just energy transition.

The president also emphasized that Egypt is committed to expanding its ongoing collaboration with the British company, particularly in the realm of green hydrogen production, which aims to empower Egypt to leverage its resources effectively for the benefit of current and future generations.

From his part, BP’s CEO lauded Egypt’s balanced approach to developing the energy sector and transitioning to clean energy, a strategy leveraging Egypt’s significant potential in this field, asserting that this approach serves as a key driver for BP’s commitment to a wide-ranging partnership with the state, given the company’s position as a leading investor in the Egyptian energy market.

The meeting was also attended by Prime Minister Moustafa Madbouly, Minister of Petroleum and Mineral Resources Tarek El-Molla, and BP Regional President for the Middle East and North Africa Nader Zaki.

Early Monday, El-Sisi inaugurated the seventh edition of the Egypt Energy Show (EGYPES 2024), held at Al-Manara International Conference Centre in New Cairo, under the theme “Driving Energy Transition, Security, and Decarbonisation.”

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