Egyptian President confirms granting facilitations to Italian Eni projects to increase its investments in Egypt
Cairo, Aug 25 (KUNA) -- Egyptian President Abdel Fattah al-Sisi affirmed today, Tuesday, that his country will continue to provide the necessary facilitations for projects by the Italian energy company Eni within Egypt and to remove any challenges facing its operations, in order to enhance efforts to transform the country into a regional gas hub.
In a statement, Presidential Spokesman Ambassador Mohamed El-Shenawy said this came during a meeting between President al-Sisi and Eni’s CEO Claudio Descalzi and his accompanying delegation in the city of Alamein.
Al-Sisi stressed the importance of continuing fruitful cooperation with the company and expanding exploration, appraisal, and production activities to enhance regional integration and consolidate Egypt’s role as a center for gas trading, liquefaction, and export. He praised the existing partnership with Eni and the projects it is implementing in Egypt in the fields of exploration and appraisal, as well as in the context of community support.
For his part, Descalzi emphasized Eni’s commitment to strengthening its role as the largest energy company operating in the Egyptian market, noting that its total investments in Egypt have reached $5.8 billion. He highlighted the company’s success in solidifying its presence in exploration, appraisal, and the development and production of crude oil and natural gas.
Descalzi outlined Eni’s integrated investment program in Egypt and its plans to intensify exploration, appraisal, development, and operational activities in its various concession areas, particularly in the Mediterranean Sea and the Zohr field. He indicated the company’s intention to drill 30 exploration wells and 200 development wells in the coming phase.
He also discussed Eni’s plans to intensify exploratory and developmental drilling programs in 2026 and 2027, especially in the Mediterranean Sea and the Western Desert, aiming to increase natural gas and crude oil production by leveraging the latest seismic survey technologies and artificial intelligence.
Descalzi stressed the importance of connecting the Cypriot Cronos natural gas field to Egypt’s main power grid, considering that such a step would enhance Egypt’s status as a regional gas trading hub.
According to the statement, the meeting also covered the Italian company’s community efforts in Egypt and its plans to develop and manage a hospital in the country. (End) M.M. / N.S.A.
