British energy giant BP plans to invest approximately $1.5bn in Egypt during the 2026/2027 fiscal year to fund gas development, exploration, and the drilling of new wells, the company’s executive vice president for gas and low carbon energy, William Lin, said on Tuesday. Madbouly said the government values its strategic partnership with BP and expressed a desire for increased investment in the coming period. Lin confirmed BP’s commitment to expanding cooperation with the Egyptian government, citing the company’s strong local and regional presence. Lin noted that the company, which has a long history in the Egyptian market, is also targeting energy projects in the Red Sea. Lin concluded by reiterating BP’s commitment to continue pumping investments and expanding its scope of operations within the Egyptian market.

Source: Daily News Egypt March 31, 2026 20:02 UTC