Minister of Petroleum and Mineral Resources, Karim Badawi, met with Agostino Palese, the Italian Ambassador to Cairo, to discuss ways to enhance cooperation between the two countries in the oil and gas sector and to follow up on the implementation status of petroleum projects in which Italian companies operating in Egypt are involved.
During the meeting, Badawi noted that the partnership with the Italian side represents a successful model of constructive cooperation in the Mediterranean region. He pointed to the strategic role Eni has played as Egypt’s partner for more than 70 years.
The meeting reviewed the investment opportunities available in the Egyptian oil and gas sector, particularly in the areas of exploration, prospection, and field development, as well as emission reduction and digital transformation projects.
Badawi stressed that the Ministry places great importance on providing a favorable investment environment for international companies to help increase production rates and secure energy supplies, praising the vital role played by Italian investments in this regard.
For his part, Palese expressed his country’s pride in the close cooperation with Egypt, particularly in the petroleum sector, praising Egypt’s achievements as a regional hub for gas trading and distribution.
The Ambassador affirmed the interest of more Italian companies in strengthening their presence in the Egyptian market and capitalizing on the promising opportunities offered by the sector, especially in light of the positive developments currently taking place in Egypt’s petroleum industry.
Palese further noted that a large number of Italian companies and institutions are preparing to participate in the upcoming edition of the Egypt Energy Show (EGYPES 2026).
The meeting reviewed the existing cooperation between Egypt and Cyprus, alongside Italy’s Eni and France’s TotalEnergies, to develop Cypriot gas resources in the Cronos field by leveraging Egypt’s infrastructure to export gas to Europe.
Additionally, the discussions covered collaboration with other Italian firms, such as Saipem, as well as Italy’s interest in Sustainable Aviation Fuel (SAF) production, and potential joint opportunities between companies from both nations in the mining sector.
In February 2025, Italian’s Eni’s CEO, Claudio Descalzi, signed an agreement with Badawi; George Papanastasiou, Cypriot Minister of Energy, Commerce and Industry; as well as TotalEnergies, for the exploitation of Cyprus’ Cronos Block 6 resources. The agreement marks a major step toward an Eastern Mediterranean gas hub by integrating Cypriot production with Egyptian infrastructure. Under this framework, gas from the Cronos discovery will be processed at Zohr and liquefied at the Damietta plant, fast-tracking exports to Europe.
