Bob Dudley, the CEO of British Petroleum, asserted that Egypt is one of the most important business axes in the Middle East region and it should be supported in the energy domain, noting that Egypt has witnessed a big progress that has not been seen before.
Addressing the second day of Egypt Economic Development Conference (EEDC), currently in session in Sharm El Sheikh, the BP official said Egypt is the biggest market in the Middle East and this event proved that the Egyptian economy is striving with all its power to lure investments.
Over the past four months, bureaucracy has gradually been eliminated and now the situation is more flexible and more partners have become understanding, he explained.
Minister of Petroleum Sherif Ismail and BP CEO have earlier in the day signed an agreement on new oil explorations in the west and east of the Nile and the Mediterranean at a value of dlrs 12 billion.
Source: MENA