British energy giant BP plans to invest approximately $1.5bn in Egypt during the 2026/2027 fiscal year to fund gas development, exploration, and the drilling of new wells, the company’s executive vice president for gas and low carbon energy, William Lin, said on Tuesday.
The investment plan, which remains open to additional capital inflows, was announced during a meeting between Lin and Egyptian Prime Minister Mostafa Madbouly on the sidelines of the EGYPS 2026 energy conference. Madbouly said the government values its strategic partnership with BP and expressed a desire for increased investment in the coming period.
Lin confirmed BP’s commitment to expanding cooperation with the Egyptian government, citing the company’s strong local and regional presence. He expressed appreciation for the Ministry of Petroleum and Mineral Resources’ efforts in supporting the company’s activities, specifically noting the regular payment of dues despite current regional and international challenges.
“These decisions are characterised by complete clarity and have contributed to stimulating us to take important investment steps,” Lin said regarding recent state measures in the oil and gas sector.
BP’s current portfolio in Egypt includes participation in 14 concession areas in the Mediterranean, comprising 12 sites in the development and production phase and two under exploration. Lin noted that the company, which has a long history in the Egyptian market, is also targeting energy projects in the Red Sea.
The meeting, attended by Minister of Petroleum and Mineral Resources Karim Badawi, took place during the second day of the ninth Egypt International Energy Exhibition (EGYPS 2026), held under the auspices of President Abdel Fattah al-Sisi.
Lin concluded by reiterating BP’s commitment to continue pumping investments and expanding its scope of operations within the Egyptian market.
