BP Set to Boost Egypt's Gas Projects With $1.5B Investment

BP plc (BP) has announced plans to invest $1.5 billion in Egypt over the next three to four years. This investment aims to bolster gas projects and drilling operations to develop the energy landscape in Egypt.The announcement follows BP’s recent decision to form a gas-focused joint venture with the Abu Dhabi National Oil Company (“ADNOC”) in Egypt to enhance gas production capabilities in the region.BP will hold a majority stake of 51% in the joint venture, with ADNOC owning the rest. The partnership unders ...