BP & ADNOC Deepen Partnership with New Egypt Gas Joint Venture

Energy giants BP and ADNOC solidify their 50+ year collaboration with a new joint venture focused on Egyptian gas assets.

• The 51% BP, 49% ADNOC JV leverages combined expertise to grow gas portfolios in Egypt.

• BP contributes 3 development concessions and exploration agreements, while ADNOC provides cash for future growth.

• The JV aims to enhance Egyptian energy security and contribute to regional economic development.

• This collaboration strengthens broader partnerships in energy, renewables, and carbon capture technology.

• Both companies are founding members of the Oil and Gas Decarbonization Charter, promoting climate action.

• This deal follows ADNOC's first international investment in carbon management and a potential joint platform with Santos.