BP considers partial sale of Egypt gas assets amid global restructuring

British energy major BP (LSE:BP) is considering the sale of part of its natural gas assets in Egypt as part of a broader restructuring strategy aimed at reducing debt and focusing on higher-return projects, Reuters reported, citing sources close to the matter.

The strategic shift follows a steep decline in BP’s domestic gas production over the last two years. However, the company plans to refocus on its newer, high-potential offshore Mediterranean discoveries.

The company has not yet reached a final decision regarding any potential divestment. A spokesperson for BP declined to comment. He described the reports as market speculation. BP said earlier it was investing around $1.5bn in Egypt's natural gas sector for FY 2026/27 to fund major exploration, development, and drilling projects in the Mediterranean.

Egypt remains one of BP’s main investment destinations. The energy company has invested more than $35bn in the country over the past six decades. BP currently contributes around 60% of Egypt’s natural gas production through joint ventures operating across the East and West Nile Delta regions.

Earlier, the company announced plans to inject nearly $1.5bn in new investments during FY 2026/27, targeting gas exploration and field development projects. Among its upcoming developments, the Fayoum 4 well is expected to begin production in July 2026 with an estimated output of nearly 100mn cubic feet of gas per day. The additional supply is expected to support domestic energy demand during the summer months, when gas consumption for electricity generation typically rises sharply. The new production is also anticipated to help Egypt reduce its gas import bill amid ongoing efforts to strengthen local energy supplies.