Egypt

The numbers that matter

During our time here our joint venture, the Gulf of Suez Petroleum Company (GUPCO), with the Egyptian General Petroleum Company, has produced almost 40% of Egypt’s entire oil production.

And with our partners, we currently produce almost 10% of Egypt’s annual oil production and condensate.

Through our joint venture with EGAS and IEOC (ENI) the Pharaonic Petroleum Company (PhPC) and through collaboration with Petrobel, we now produce almost 60% of Egypt's total gas supply.

Our investments totalled more than $30 billion, making BP one of the largest foreign investors in the country.

The big picture

BP is continuously working to meet Egypt’s growing domestic gas market by:

• actively exploring in the Nile Delta
• investing to add production from existing discoveries.

BP is also committed to a wide-ranging social investment programme focused on education, training, and skills development.

In detail

BP operates the West Nile Delta project. The first phase of the five-field development project, Taurus Libra, began production in March 2017 and the second phase, Giza Fayoum, is expected to start production shortly. Total gas production from WND is expected to potentially reach up to 1.3 billion cubic feet a day (bcf/d) in 2020.

The Atoll field development is another important project. In 2018, PhPC brought the field into production, well within the target budget and eight months ahead of schedule. Atoll is producing around 0.35 bcf/d and is feeding the country’s national gas grid.

In 2017, BP acquired 10% interest from ENI in the Shorouk concession that contains the giant Zohr gas field. Last year, we acquired a 25% participating stake in the Nour North Sinai Concession; and also approved the execution of Harmattan and Qattameya Shallow, targeting first gas from both in 2020.

Supporting a strong gas value chain

BP has a 33% investment in the United Gas Derivatives Company, together with ENI/IEOC and GASCO, adding value through extracting LPG needed for the domestic market, as well as propane and condensate which are important feedstocks for petrochemicals and other industries.

Investing in the downstream

We participate in the downstream sector through our 40% stake in the Natural Gas Vehicles Company, established in 1995 as the first company in Africa and the Middle East to commercialize natural gas as an alternative fuel for vehicles.

In 2018, BP’s Castrol brand formed a joint venture here with its existing distribution partner, TAQA Arabia. Castrol Egypt Lubricants S.A.E. will locally manufacture and market world-class automotive and industrial lubricants, while TAQA will continue as the sole distributor in Egypt.

Stepping into solar

BP’s solar power joint venture Lightsource BP formed a joint venture last year with Hassan Allam to fund, develop and operate solar projects, offering Egyptian commercial and residential customers world-class solutions in solar energy and energy storage.

Looking ahead

We’ll continue to play a vital role in supporting Egypt’s transformation into a strategic regional energy hub in the East Mediterranean.

Community investment

BP is committed to a wide-ranging social investment programme focused on education, training, and skills development. BP Egypt supports several educational initiatives, including funding scholarships for top Egyptian graduates to pursue post-graduate studies at the prestigious Cambridge University in the UK, in addition to scholarships through the Chevening scheme.

BP Egypt also partners with local prominent non-governmental organizations to provide training and skills development.

To date, BP supported the funding of scholarships for 100 Egyptian graduates of impressive talents. We have also promoted corporate volunteerism through the Injaz volunteering programme, where every academic year, a number of staff volunteer their time in coaching Public school students and helping them develop some skills to prepare them for beyond school, including work readiness, entrepreneurship and financial literacy skills.

As part of the WND project, BP has been running a social investment programme directed to various sustainable development projects in coordination with the local communities and utilizing local service providers. The scale of investment and activities of the WND project has significantly contributed to the growth of petroleum-related industries as well as maximize Egyptian employment. We are also proud to note that this programme is the biggest-ever implemented by the Beheira Governorate in Egypt.

Our project there is dedicated to creating jobs, micro-financing, education, and health. Until now, BP has awarded more than 100 interest-free loans in this project, which will help create employment opportunities and support the development of the local communities. The project itself will generate up to 7,000 direct and indirect job opportunities during its construction phase and has so far provided support to two local hospitals.

Sponsorship

For more than 55 years BP has been an energy partner to Egypt and today our partnership extends to the Egyptian Paralympics Committee. BP Egypt is a partner of the Paralympic movement since 2008 and is the first oil and gas company to become an official partner of the Egyptian National Olympic and Paralympic Committees since the establishment of the Egyptian Olympic Committee in 1910.

We are the top-level partner and official oil and gas and energy partner with the Egyptian National Paralympic Committee (ENPC) on its road to the Tokyo 2020 Paralympic Games agreement signed in July 2017.

BP Egypt is supporting three Paralympian brand ambassadors on their journey to Tokyo 2020 Games: Ahmed Abdel Fattah (sitting volleyball); Ayatallah Ayman Abbas (swimming); and Mostafa Fathalla (athletics).

Our commitment to integrity

BP is committed to follow policies on ethical conduct, employee relations, health, safety, security, environment control and finance. BP strives continuously to achieve its aspiration of no accidents, no harm to people, and no damage to the environment.

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