Sisi: Impediments facing BP’s work need to be removed to advance oil exploration, production in Egypt

CAIRO - 14 February 2022: President Abdel Fattah El-Sisi met with the Chief Executive Officer of British Petroleum, BP, Mr. Bernard Looney, on the sidelines of the Egypt Petroleum Show (EGYPS 2022). The meeting was also attended by Minister of Petroleum and Mineral Resources, Eng. Tarek El Molla.

 

The Spokesman for the Presidency said the meeting discussed progress in the joint cooperation with BP, which is the largest oil producer in Egypt. It also reviewed the company’s current activities and targeted investment plans during the coming few years in the areas of petroleum search and exploration in Egypt.

 

President El-Sisi welcomed BP’s CEO and reiterated that Egypt supports and welcomes progress in the cooperation relations between the two sides, given the company’s longstanding history and previous activities in Egypt. 

 

He confirmed that this shall boost Egypt’s endeavors to become a regional hub for energy trading. President El-Sisi stressed the need to continue coordination and cooperation with the British company and to remove any impediments facing its work so as to further advance search and exploration efforts as well as oil production in Egypt. 

 

The President underscored the strategic cooperation relations and outstanding partnership between Egypt and all British companies, within the framework of the two countries’ distinct relations.

 

BP’s CEO, Mr. Looney, lauded President El-Sisi’s wise leadership and ambitious vision, which have led Egypt to become a successful economic and developmental model, at both the regional and international levels. 

 

He also commended the special relations between Egypt and the UK across an array of fields, asserting that Egypt is at the forefront of countries that BP places huge interest in boosting the size and scope of its investments. 

 

Mr. Looney noted that this comes in light of the positive investment climate in Egypt as well as the promising opportunities offered in its energy sector. 

 

He highlighted, in particular, the great interest accorded by the state to develop this vital sector as well as Egypt’s possession of all components necessary for the success of this approach, including the unique geographic location, the discoveries in the oil and gas fields and the advanced infrastructure.