British Petroleum (BP), an oil and gas global giant, announced Monday August 28 plans to inject $3.5 billion in Egypt for the next three years. The investments will go towards research, exploration and development, the office of the Egyptian leader announced. Operating in the North African country for 60 years now, BP has invested more than $35 billion in the country and produces around 60% of its gas. The announcement comes amid plans by Egypt to drill 45 natural exploratory gas wells in the Mediterranean and the Nile Delta with $1.9 billion in investments until mid-2025. El-Molla added that during the years 2023/2024 and 2024/2025, a total of 35 exploratory wells will be drilled with $1.5 billion in investments.
