Egypt
bp has had a successful presence in Egypt for over 60 years, with investments totaling more than $35 billion
Together with its partners, bp currently produces approximately 70% of Egypt’s gas through joint ventures with the Pharaonic Petroleum Company (PhPC) and Petrobel in the East Nile Delta, as well as through BP-operated fields in the West Nile Delta.
In February 2024, bp and XRG announced the financial close and formation of their new joint venture, Arcius Energy, an international natural gas platform. bp holds a 51% stake, while XRG, ADNOC’s transformative energy investment company, holds the remaining 49%. This new JV will leverage the combined technical expertise and proven development capabilities of both companies, with a focus on building a highly competitive gas portfolio.
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 teaching Public school students some skills, 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 100 + interest free loans in this project and will generate up to 6700 direct and indirect job opportunities during its construction phase and has so far provided support to two local hospitals.
Our commitment to integrity
We are committed to following policies on ethical conduct; employee relations; health, safety, security, and environment control; and finance. We strive continuously to achieve our aspiration of no accidents, no harm to people and no damage to the environment.