Eni, Italy’s largest multinational energy company specializing in oil, gas, and renewable energy, is set to invest USD 8 billion (EGP 381 billion) in the Egyptian market over the next five years, as announced by Chief Executive Officer (CEO Claudio Descalzi during a meeting on Tuesday, 25 November, with President Abdel Fattah El-Sisi, Prime Minister Mostafa Madbouly, and Minister of Petroleum Karim Badawi. Descalzi praised the Egyptian government for its efforts to facilitate investment procedures, which he indicated benefits both parties involved. President El-Sisi acknowledged Eni’s significant contribution to Egypt’s natural gas production, noting that the company accounts for approximately 40 percent of the nation’s output. He emphasized the importance of optimizing Egypt’s natural resources and reaffirmed the state’s commitment to settling dues owed to foreign partners, which is vital for supporting their expansion efforts in production and exploration. The discussions also covered Eni’s active engagement in various development projects across Egypt, highlighting the company’s role in energy production and community development initiatives. Furthermore, Eni expressed intentions to explore investment opportunities in other sectors, such as mining, showcasing its commitment to a diversified investment approach in Egypt. The meeting underscored…
This content is for members only. Visit the site and log in/register to read.Eni Plans USD 8 Billion Investment in Egypt’s Energy Sector first appeared on Egyptian Streets.
Hence then, the article about eni plans usd 8 billion investment in egypt s energy sector was published today ( ) and is available on Egyptian Streets ( Egypt ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Eni Plans USD 8 Billion Investment in Egypt’s Energy Sector )
Also on site :