Minister of Petroleum and Mineral Resources Karim Badawi met with bP’s Executive Vice President for Gas and Low Carbon Energy, William Lin, along with other bp officials, to talk about the company’s business progress, investments plans in Egypt, and the development of its new two major discoveries in the Mediterranean region.
Furthermore, Badawi discussed with Lin cooperation efforts and the steps necessary to accelerate the King Mariout and Fayoum 5 discoveries. Lin emphasized bp’s interest in the swift development of the two discoveries, expressing his desire to enhance the joint efforts with the Egyptian oil and gas sector to achieve this goal.
He also showcased the company’s plans to expedite the development of the Harmattan natural gas field in the Eastern Mediterranean and capitalize on promising opportunities in Pharaonic Petroleum Company’s operating areas in Port Said.
Badawi noted that the government is adopting an integrated approach to address challenges in the energy sector by increasing oil and gas production. It would offer effective investment incentives, while expanding renewable energy resources to enhance energy security and support the national economy.
The meeting also covered updates on the plans of Arcius Energy, the new joint venture between bp and XRG, which is investing in several gas exploration and production areas in the Egyptian Mediterranean.
