British companies, including BP, Shell, Harbour Energy, and Capricorn, have shown increased interest in Egypt with substantial investment commitments, reflecting the appeal of Egypt’s energy investment landscape, according to Karim Badawi, Minister of Petroleum and Mineral Resources. The Minister made these remarks during his meeting with Mark Bryson-Richardson, the British Ambassador to Cairo, and his accompanying delegation on November 20.
Minister Badawi highlighted Egypt’s growing role as a regional gas and oil trading hub, which receives significant quantities of gas, particularly those expected from Cypriot fields that can be directed to value-added industries. He also reviewed ongoing mutual projects in the oil, gas, petrochemical, and mining sectors.
Ambassador Bryson-Richardson commended Egypt’s significant efforts to develop its mining sector and create a favorable investment climate. He noted that many British companies are seeking to explore investment opportunities in Egypt in the petrochemical and mining sectors, especially in vital minerals, Sustainable Aviation Fuel, and other strategically important projects.
British energy giants have recently made headlines with renewed interest in Egypt. Eni has committed to invest $8 billion in Egypt through 2030 and extended its Gulf of Suez and Nile Delta concession until 2040. Harbour Energy made the first gas discovery in the Nile Delta in two years in October following the drilling of the North Sidi Ghazy 1-9 exploration well. Badr El Din Petroleum, which is co-owned by Capricorn, produced an average of 53,000 barrels of oil equivalent per day, drilled 18 wells, and made total investments of $183 million throughout FY2024/25.
Source: egyptoil-gas.com
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