Oil minister confers with BP officials on new gas projects

CAIRO - 9 December 2019: Minister of Oil and Mineral Wealth Tarek el Molla conferred on Monday with the newly-appointed Chief Executive Officer of British Petroleum Company Bernard Looney and 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 Chairman in Egypt Karim Alaa.

The meeting took up the company's activities in Egypt and the development of new gas projects as well as present and future plans.

In a statement released by the Ministry of Petroleum, the minister said the meeting covered available investment opportunities in Egypt and means of beefing up strategic cooperation between Egypt and BP in the coming phase in view of Egypt's strategy to become a regional energy hub and expand its petroleum projects.

Talks also covered cooperation in the field of exchanging expertise, raising quality standards, as well as training of cadres.

Looney, on his part, highlighted the achievements of BP in Egypt since it started its operations in the Egyptian market 55 years ago, praising the positive cooperation with the sector of petroleum and the attractive investment atmosphere in Egypt.

He asserted that the company is committed to expanding its fields of operation in Egypt and luring more investments to this vital sector, citing its activities in North Alexandria and Atoll gas field in Eastern the Mediterranean.

Looney also praised Egypt's role in establishing the East Mediterranean Gas Forum which contributed to beefing up cooperation among its member countries, asserting that BP will continue backing the oil sector in Egypt and contribute to training Egyptian cadres in its various business spots worldwide.