UK’s bp to invest $3.5bln in Egypt over 3 years

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This came during a meeting between Egyptian President Abdel Fattah El-Sisi and bp’s CEO Bernard Looney

Staff Writer, Arab Finance

August 29, 2023

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The UK-based oil and natural gas company bp will invest $3.5 billion in Egypt in the fields of oil exploration and development over the coming three years, according to a statement by the Spokesperson of the Egyptian Presidency.

This came during a meeting between Egyptian President Abdel Fattah El-Sisi and bp’s CEO Bernard Looney.

The meeting tackled boosting cooperation between both sides in several areas, including carbon emissions reduction, energy transition, and green hydrogen production.

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