Minister of Petroleum and Mineral Resources Tarek El Molla met with the Italian Ambassador Michele Quaroni to discuss aspects of joint cooperation in the oil and gas sector through Italian companies operating in Egypt.
El Molla stressed that Italian companies, especially Eni, are major partners for the petroleum sector. Furthermore, he reviewed with Quaroni the latest updates on Eni’s projects in oil and gas exploration and production (E&P) activities in the Mediterranean, the Gulf of Suez, and the Western Desert.
Moreover, the Minister highlighted Eni’s win in the first digital international bid round, in addition to bilateral cooperation in liquefied natural gas (LNG) exports from the Damietta Plant. The sector also joined forces with Italy to implement projects aimed at promoting the use of natural gas as a fuel for vehicles. This fruitful cooperation is represented by Gastec joint company between the Egyptian petroleum sector and Eni, El Molla added.
During the meeting, the activities of other Italian companies in Egypt were also reviewed, most notably cooperation in designing, implementing, and financing new projects for the development and expansion of refineries, in partnership with Technip and the Italian Export Credit Agency (SACE).
For his part, the Italian ambassador said that energy cooperation has strongly developed in recent years, and in turn improved the investment climate in Egypt.