In a meeting between Saudi Arabia’s Investment Minister Khalid Al-Falih and Eni’s CEO Claudio Descalzi,
a memorandum of understanding (MoU) was signed between Eni and the ministry with the intention of
fostering collaboration between Eni, Saudi institutions, and businesses, particularly in the area of
specialty conversion chemicals and sustainable development across the country.

The MoU focuses on areas of collaboration including the exploration of initiatives in the fields of circular
economy, chemicals industry, and sustainable mobility.

Based on the difficulties facing the energy market right now, the two parties discussed the role that
Saudi Arabia should play.

Since 1984, Eni has been active in the Kingdom’s chemical and refining industries through its subsidiary
Ecofuel.