Oil minister confers with BP delegation on means of enhancing joint ventures

CAIRO - 16 February 2021: Minister of Oil and Mineral Wealth Tarek el Molla conferred on Tuesday with a delegation of the British Petroleum (BP) Company on current projects and means of bolstering cooperation between the two sides along with reviewing the developments of the oil and gas prices worldwide amid the coronavirus pandemic.

In statements on Tuesday, Molla said the oil sector is closely cooperating with a number of distinguished companies including BP, which is one of the most important strategic partners to Egypt in view of the available chances and cooperation domains between the two sides.
 

He pointed out to recent agreements signed with a number of major international companies with the aim of flourishing the oil sector and adding new reserves to Egypt's mineral wealth.
 

He added that the East Mediterranean Gas Forum (EMGF) provides a variety of economic privileges for its member states, not only Egypt, in a way that could ease the businesses of companies in the region.
 

Molla asserted that Egypt was committed to international agreements seeking to preserve the climate and environment, adding that current plans aim at expanding the use of natural gas in various activities due to its eco-friendly properties.
 

Meanwhile, BP Deputy Chief Executive Officer (CEO) For Gas and Low Carbon Energy Dev Sanyal affirmed that BP has big confidence in the climate of Egypt which is luring to investments and the business outlook in Egypt is greatly positive. He said Egypt is a key station in the company's businesses worldwide and is seeking to increase its activities in other fields especially the trade of liquefied gas. 
 

Also, BP Deputy CEO for Operations and Production Gordon Birrell reviewed the latest progress achieved in Raven oil field as part of the third phase of the development of offshore Mediterranean to West Nile Delta region. 
 

BP's phase three of the $12 billion West Nile Delta project offshore Egypt will come online this year, he added. 
 

The meeting also covered the programs for training human cadres in the middle management levels as BP has greatly contributed to the development of staffers in the oil sector.