CAIRO, Feb 20 (NNN-MENA) – Energy giant, British Petroleum (BP), planned 1.5-billion-U.S. dollar new investments, for development and exploration activities in Egypt, the Egyptian presidency said, yesterday.
The announcement was made after a meeting in Cairo, between Egyptian President, Abdel-Fattah al-Sisi, and BP Chief Executive Officer, Murray Auchincloss, in Cairo, said the statement.
During the meeting, Auchincloss announced that, there is a potential for an additional five billion U.S. dollars in investments over the coming years, according to the statement.
He affirmed BP’s keenness on further boosting its investment in the field of oil and gas exploration in Egypt, adding that, Egypt stands as a priority destination for the company’s exploration investments.
For his part, Sisi said that, BP’s activities are aligned with Egypt’s goal of transforming into a regional hub for energy production and trade.
He underscored the state’s commitment to facilitating the operations of international companies and the private sector in this domain.
On its website, BP said, it has invested more than 35 billion U.S. dollars in Egypt, over the past 60 years.– NNN-MENA
