Eni plans to inject a total of $8 billion into the Egyptian market over the next five years, in cooperation with its partners, according to Guido Brusco, Eni Chief Operating Officer Global Natural Resources. The investment will be directed toward developing existing fields and conducting further exploration.
This came during a meeting with Prime Minister Mostafa Madbouly and Petroleum Minister Karim Badawi to review Eni’s investment plan for the coming period.
During the meeting, Madbouly pointed to the company’s major role in the oil and gas sector, as it contributes about 40 per cent of Egypt’s natural gas production. Badawi commended Eni’s continued interest in expanding its partnership with Egypt, stressing the importance of increasing production operations amid recent sector developments.
Brusco praised the Egyptian government’s support for oil companies and its commitment to settling foreign partners’ dues, considered critical for sustaining exploration and production growth. He further noted that Eni has begun studying opportunities in mining for rare metals in Egypt, with potential investments under review for the upcoming period.
Eni is active in the development and production of hydrocarbons and the implementation of gas projects in Egypt.it is the operator of the Zohr gas field. The company further operates in the refining and marketing of crude oil products.
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