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BP Eyes Egypt Gas Asset Sale Amid Restructuring
15 May
Summary
- BP is considering selling some of its natural gas assets in Egypt.
- The company has invested over $35 billion in Egypt for decades.
- BP produced 518 million cubic feet of gas daily last year in Egypt.
BP is evaluating the potential sale of some of its natural gas assets located in Egypt. This strategic consideration is part of new CEO Meg O'Neill's plan to reduce the company's debt and concentrate on more profitable ventures.
Over the past six decades, BP has invested more than $35 billion in Egypt. Through joint ventures and its own operated fields, the company has been responsible for producing approximately 60% of Egypt's natural gas.
Despite recent discoveries and concessions awarded earlier this year, BP produced 518 million cubic feet of natural gas per day in Egypt last year. This output represents a significant decrease from previous years, down by about 40% from 2025 and nearly 60% from 2024.
