BP vows to expand Egypt investments, speed up gas drilling

British oil major BP reaffirmed its commitment to expand investments in Egypt, accelerate drilling plans, and connect new gas discoveries to production during a meeting with the country’s Petroleum Minister, Karim Badawy, the Petroleum Ministry said Tuesday.

The meeting included BP’s Regional President for the Middle East and North Africa, Nader Zaki and Regional Vice President in Egypt Wail Shaheen. Discussions focused on BP’s ongoing projects in Egypt and the company’s investment strategy for the coming period, highlighting the firm’s role as a key investor in gas exploration and production.

BP outlined an ambitious drilling programme starting this year in its Mediterranean concession areas, following an agreement signed in London in September 2025. Badawy stressed the importance of the programme for Egypt’s gas exploration strategy and pledged full ministry support to overcome operational challenges.

The meeting also reviewed last year’s Fayoum and ElKing discoveries and explored ways to expedite their connection to production, boosting domestic gas output.

Investment opportunities in the Western Mediterranean and Red Sea regions were also discussed. Badawy said expanding BP’s portfolio into these areas could replicate Mediterranean success in the Red Sea, supported by investment incentives designed to strengthen Egypt’s oil and gas reserves.

Plans for Arcius, a joint venture between BP and UAE’s ADNOC, were also highlighted, with calls for workshops to explore further opportunities.

BP’s Zaki reiterated the company’s long-term partnership with Egypt’s petroleum sector and said the country is now a top global priority for BP, thanks to the ministry’s efforts to improve the investment environment. He added that BP plans to increase Arcius investments to further develop Egypt’s gas resources.

Attribution: Amwal Al Ghad English