British Petroleum (BP) has been operating in Egypt for 60 years, during which it has invested over $30 billion cumulatively, said CEO of BP, Murray Auchincloss, during his meeting with Prime Minister, Mostafa Madbouly.

Additionally, Auchincloss discussed BP’s plans to commence production from several wells it operates, with one set to begin production in the first quarter of next year.

Madbouly emphasized that the company has an ambitious plan to explore oil and gas in six concession areas in Egypt.

He added BP has continued to invest and operate in Egypt despite the challenges and difficulties faced by the Egyptian economy over the past years, reaffirming the state’s commitment to supporting the oil and gas sector and the companies operating within it.

He also referred to the incentives package announced by the Minister of Petroleum and Mineral Resources to boost oil and gas production in Egypt.

 Auchincloss expressed that BP has always been a committed partner when it comes to investing in Egypt, even during challenging times in the Egyptian market.

He outlined BP’s continuous efforts to achieve further discoveries within its concession areas, noting that these efforts would contribute to meeting the local market’s supply needs.

The CEO of BP also reviewed promising investment opportunities the company is pursuing in various concession areas between 2025 and 2027.