After almost 60 years, and investments exceeding $35 billion, bp has secured its place as one of the significant foreign investors in the country. Together with its partners, bp provides around 60% of Egypt’s annual gas production through its JVs, having doubled its 2016 net production in 2019. Egypt is a key business in bp’s global portfolio.
West Nile Delta (WND) project’s five-field gas development project, is equivalent to about 15% of Egypt’s current gas production. In 2017, bp acquired a 10% interest in the Shorouk concession that contains the giant Zohr gas field as well as a 25% participating stake in the Nour North Sinai Concession. The following year, in 2018, the Atoll field development came on-line. Production from Qattameya discovery started mid-2020, in addition to which Satis West, the first Rupelian development in the Nile Delta, is expected to unlock additional resources and backfilling Qattameya end of 2024 along with the new project Harmattan which will be developed and brought online in 2024.
bp is continuing to invest in development plans and progress discovered resources, as well as drilling multiple exploration wells across the Nile Delta.
The Castrol brand formed a joint venture with existing distribution partner, TAQA Arabia, to manufacture and market world-class automotive and industrial lubricants locally.
Lightsource bp formed a local joint venture with Hassan Allam, to fund, develop and operate solar projects locally, offering world-class solutions to expand the use of renewable energy resources in Egypt.
Furthermore, bp has a 33% investment in the United Gas Derivatives Company (UGDC) and a 40% stake in the Natural Gas Vehicles Company (NGVC), the first in Africa and the Middle East to commercialize natural gas as an alternative fuel for vehicles.
We care about our community
bp has a wide-ranging social investment programme focusing on education and skills development, which includes the funding of more than 100 post-graduate Egyptian students at Cambridge University, in addition to providing scholarships through the Chevening scheme.
bp has joined forces with the Ministry of Petroleum to support the Ministry’s efforts to fast-track the development of selected high-calibre individuals to prepare them as future leaders in the Egyptian energy industry. Under this programme, 10 individuals were given a six-month high-quality development opportunity in Egypt and the UK during 2019. Participants received both on-the-job and formal development experiences.
bp is running the biggest social investment programme ever in the history of Behera Governate, where our WND project is located, more than EGP120 million (US $7.5m), is being invested into education, healthcare, entrepreneurship and infrastructure development projects.
bp is also proud to be the official energy partner of the Egyptian National Paralympic Committee and has been supporting top Paralympian brand ambassadors on their journeys to London 2012, Rio 2016 and Tokyo 2020 Games.