British corporations, together with BP, Shell, Harbour Power, and Capricorn present elevated curiosity in Egypt with an apparent dedication to inject substantial investments into is clear of the enchantment of Egypt’s vitality funding panorama, mentioned Karim Badawi, Minister of Petroleum and Mineral Assets, throughout his assembly with Mark Bryson-Richardson, the British Ambassador to Cairo, and his accompanying delegation, on November 20.
The Minister additionally highlighted Egypt’s rising position as a regional gasoline and oil buying and selling hub, which receives important portions of gasoline, notably these anticipated from Cypriot fields, that may be directed to value-added industries. He additionally reviewed the continuing mutual tasks within the oil, gasoline, petrochemical, and mining sectors.
The Ambassador recommended Egypt’s important efforts to develop its mining sector and create a positive funding local weather. He added that many British corporations are searching for to discover funding alternatives in Egypt within the petrochemical and mining sectors, particularly in very important minerals, Sustainable Aviation Gas(SAF), and different essential strategic tasks.
British vitality giants have made headlines in Egypt with renewed curiosity within the nation. Eni has dedicated to speculate $8 billion in Egypt by way of 2030, along with extending its Gulf of Suez and Nile Delta concession till 2040. In the meantime, Harbour Power made the primary gasoline discovery within the Nile Delta in two years in October, following the drilling of the North Sidi Ghazy 1-9 exploration effectively. Badr El Din Petroleum (BAPTECO), which is co-owned by Capricon, has produced a median of 53,000 barrels of oil equal per day (boe/d), drilled 18 wells with whole investments amounting to $183 million all through FY2024/25.
