Summit meeting during the seventh edition of the Egypt Energy Show (EGYPES 2024) between Egyptian President Abdel Fattah al-Sisi and BP CEO Murray Auchincloss. At the heart of the discussions: the growing cooperation between Egypt and BP in the production of green hydrogen.
During this meeting, President Sisi expressed his desire to strengthen the existing collaboration with the British energy giant. He praised BP’s growing investments in Egypt, particularly in oil and gas exploration projects in line with the country’s efforts to become a regional energy trading hub. The Head of State also praised BP’s commitment to the transition to clean energy and the reduction of emissions.
For his part, Murray Auchincloss highlighted Egypt’s balanced approach to the development of the energy sector and the transition to clean energy. He announced that BP plans to invest up to $1.5 billion in exploration activities in Egypt over the next few years, with the prospect of injecting up to a further $5 billion. The BP CEO also indicated that the company seeks to maximize the benefits of current facilities to accelerate development and production, in order to meet the growing demand of the local market and support Egypt’s export efforts. of energy.
This meeting demonstrates the importance of cooperation between Egypt and large international companies to develop the energy sector in the country and promote a transition to more sustainable energies.