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Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi reviewed the progress of bp’s existing projects and expansion plans in Egypt to boost natural gas exploration and production, according to a statement.
The talks took place during a meeting with William Lin, bp’s Executive Vice President for Gas and Low Carbon Energy, on the sidelines of EGYPES 2026.
Badawi said the ministry is implementing a clear strategy to enhance the investment climate and attract more foreign partners, driving the government’s commitment to settling outstanding dues to partners by the end of June.
For his part, Lin expressed bp’s interest in the ministry's digital transformation program across various sector activities and reiterated the company’s support for diversifying energy sources in line with global trends.
The meeting highlighted the importance of maximizing the benefits of promising opportunities in untapped areas, particularly in the Red Sea, where bp is closely monitoring developments amid government efforts to unlock new exploration prospects.
Earlier this week, Badawi pointed out that bp intends to invest around $1.5 billion in Egypt's natural gas exploration and development during fiscal year (FY) 2026/2027.
