Minister of Petroleum and Mineral Resources Tarek El Molla met with a delegation from Italian energy giant Eni to discuss its activities, projects, and investment pumping programs within the framework of the plan set to increase production levels at the current fields.
The delegation included Eni’s Director General of Natural Resources Guido Brusco, the company’s Regional Manager for North Africa Antonio Panza, and its Deputy of Chief Operating Officer Natural Resources Cristian Signoretto. Egyptian Natural Gas Holding Company (EGAS) Chairman Magdy Galal and his deputy for operations, Yassin Ahmed, were also present.
The meeting reviewed the development plans for a number of fields and the timetables to put them on the production map. They also discussed the position of the new concession areas that Eni won in the first digital international bid round. Developments in international oil prices and their impact on increasing investments opportunities were also brought up in the meeting.
During the talks, El-Molla confirmed that Eni is a strategic partner for the Egyptian petroleum sector and the largest producer of oil and gas in Egypt, adding that it is one of the main Italian companies that pump investments into the Egyptian economy. The oil and gas sector is currently working with its foreign partners, including Eni, to prepare for initiatives to reduce emissions at petroleum worksites and to cooperate in the fields of clean energy and hydrogen.
The meeting also touched on Eni’s current preparations to pump new investments in the areas of the Gulf of Suez and the Nile Delta, according to the agreement it signed last December to search for, develop, and exploit oil.
For his part, Brusco praised the fruitful cooperation and partnership between Eni and the Egyptian petroleum sector, stressing that Eni considers Egypt an important destination for its investments in North Africa and the Mediterranean. He added that there is a mutual desire for both sides to continue strengthening cooperation and partnership in the coming years and to continue to achieve new success stories.
