What is BP considering doing with its Egyptian gas assets, and why?

BP is considering selling some of its natural gas assets in Egypt, as reported by four people close to the matter, in line with new CEO Meg O'Neill's strategy to cut debt and refocus on more profitable projects. The company has invested over $35 billion in Egypt across six decades and currently produces about 60% of the country’s natural gas through joint ventures in the East Nile Delta and BP-operated fields in the West Nile Delta. No final decisions have been taken, and BP declined to comment on the speculation, stating it does not respond to market rumors.

How much natural gas did BP produce in Egypt last year, and how does that compare to recent years?

BP produced 518 million cubic feet per day of natural gas in Egypt last year, representing a decline of about 40% from 2024 and nearly 60% from 2023. This steep production drop underscores operational or field maturity challenges, even as BP continues exploration activity—having announced a gas and condensate discovery off Egypt’s coast in April and earlier securing the North-East El Alamein and West El Hammad offshore exploration concessions.

BP considers sale of some Egyptian gas assets, sources say

May 15, 2026

BP is reportedly considering selling natural gas assets in Egypt to cut debt and refocus operations under new CEO Meg O'Neill, following a significant drop in local production volumes.

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