Rédaction Africa Links 24 with MENA
Published on 2024-02-21 10:44:21
President Abdel Fattah al-Sisi expressed Egypt’s desire to strengthen its cooperation with the global energy giant British Petroleum (BP) in the field of green hydrogen production. The President made these remarks during his meeting with BP CEO Murray Auchincloss, which took place on the sidelines of the seventh edition of the Egypt Energy Show (EGYPES 2024) at Al Manara International Conference Center in New Cairo. The meeting was attended by Prime Minister Mostafa Madbouly, Petroleum Minister Tareq al-Molla, and Nader Zaki, BP’s regional president for the Middle East and North Africa.
During the meeting, President Sisi commended BP for its increasing investments in Egypt and its oil and gas exploration projects, which align with the country’s efforts to become a regional energy trade hub. He also praised BP’s efforts in clean energy transition and emissions reduction.
Auchincloss, on his part, praised Egypt’s balanced approach to energy sector development and its commitment to accelerating the transition to clean energy. He also announced BP’s plans to invest up to US$1.5 billion in exploration activities in Egypt in the coming years, with the potential for further investments of nearly five billion dollars.
The BP CEO also expressed the company’s intent to maximize the benefits of the current facilitations for oil and gas exploration activities in both land and sea areas. This would enable the acceleration of development and production plans to meet the growing demand of the local market and support Egypt’s efforts to export surplus energy.
President Sisi’s meeting with BP’s CEO highlights Egypt’s keenness to collaborate with international energy companies in the pursuit of sustainable energy solutions. The government’s support for clean energy initiatives and its facilitation of investment in oil and gas exploration activities demonstrate its commitment to transitioning towards a more sustainable and environmentally friendly energy sector.
Egypt’s strategic location and vast natural resources make it an attractive destination for energy investment, and BP’s continued commitment to the country further solidifies its position as a key player in the region’s energy landscape. The collaboration between Egypt and BP is poised to yield significant benefits for both parties, as well as contribute to the country’s wider efforts to develop and modernize its energy infrastructure.
In conclusion, President Sisi’s meeting with BP’s CEO reflects Egypt’s commitment to enhancing collaboration with international energy partners and accelerating the country’s transition to clean and sustainable energy solutions. BP’s significant investments in Egypt’s energy sector and its commitment to clean energy initiatives further showcase the country’s potential as a key player in the global energy market. This collaboration is expected to drive growth and innovation in Egypt’s energy sector, ultimately benefiting the country and its people.
Read Original article on Egypt Independent
