Egypt talks with Eni, BP to enhance investment opportunities

Egypt's Minister of Petroleum and Mineral Resources, Engineer Tarek El Molla, recently met with the CEOs of British Petroleum (BP) and Eni, to explore ways of improving partnership efforts. El Molla and Murray Aschincloss, BP's Interim CEO, observed major British petroleum projects in Egypt, targeting mainly gas productions and natural resources. Additionally, they discussed methods to expedite the discovery and development of fields within BP's concession areas to boost production. The meeting further addressed potential investment opportunities in new concession areas. El Molla observed BP's role as a strategic partner in major natural gas production projects in the Egyptian petroleum sector, and its interest in Egyptian investment opportunities. Acknowledging this, Aschincloss confirmed BP's strategic aim to grow and expand its operations in Egypt. El Molla also met with Claudio Descalzi, the CEO of Italian company Eni, to discuss strengthening the existing partnership. Emphasizing on Eni's multiple resources in Egypt, particularly the Zohr gas field, they discussed areas of research, exploration, development and production for optimal utilization of Egypt's resources. Descalzi expressed his pride for the longstanding collaboration between Egypt and Italy and highlighted Egypt’s significance as one of the company's global market. He also shared Eni's future plans, including the company's aim to increase production rates and pump new investments into Egypt. The meeting concluded with discussions on efficiency projects and the transition to sustainable energy.