Egypt

The numbers that matter

We are proud of our partnership with the Egyptian government over the past 57 years. Our continuing investments in the country, including West Nile Delta, Atoll and in Zohr, are laying the foundations for growth for BP in Egypt well into the future.

BP currently produces, with its partners, close to 60% of Egypt’s gas production through the joint ventures the Pharaonic Petroleum Company (PhPC) and Petrobel (IEOC JV) in the East Nile Delta as well as through BP’s operated West Nile Delta fields. We remain on track to triple our 2016 net production from Egypt by 2020.

With Gulf of Suez Petroleum Company (GUPCO) leading our operations since the 1960s, we successfully generated value for Egypt for over five decades producing almost 40% of Egypt’s entire oil production. As we transitioned to a natural gas focused portfolio in Egypt, in June 2019 BP announced its sale of its interest of GUPCO assets. The deal is currently subject to the Egyptian Ministry of Petroleum and Mineral Resources’ approval.

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, began production in February 2019. The final stage, developing the Raven field, is expected to begin production by the end of 2019. Total gas production from WND is expected to potentially reach up to 1.4 billion cubic feet a day (bcf/d) in 2020, equivalent to about 20% of Egypt’s current gas production. All the gas produced will be fed into the national gas grid.

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 over 100 Egyptian graduates of impressive talents. We have also promoted corporate volunteerism through the Injaz volunteering programme, where every academic year, a number of BP 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 program 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 program is the biggest-ever implemented in the Behera Governorate in Egypt.

Our projects are dedicated to creating jobs, micro-financing, education, and health. 

To date,

• BP has awarded more than 4,646 interest-free loans in this project, which will help create employment opportunities and support the development of the local communities. 
• BP supported three local hospitals through providing key medical equipment and trainings to improve their medical service.
• 32,363  People have visited the Project Information Center with different inquiries from the community.
• 818  Locals were trained in the Hazard School through the Public Vocational Training (Phase 1&2).
• 1,500  Locals were trained through the Mobile Craft & HSE Training  to Local Technical Seconder Schools.
  

Sponsorship

For the past 57 years, BP has been an energy partner to Egypt and today our partnership extends to the Egyptian Paralympics Committee. BP Egypt has been 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 goal is to develop the lives of the Egyptian para athletes by providing opportunities and resources to help them compete on the world stage. BP’s Rise Paralympics movie, which was developed for our Paralympics Brand Ambassador Aya Abbas, has won a Golden Award at the Brand Film Festival London 2019.

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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