President Abdel-Fattah El-Sisi during a meeting with a delegation from the Italian company Eni led by CEO Claudio Descalzi in the presence of Minister of Petroleum and Mineral Resources Tarek El Molla. (Photo courtesy of the Egyptian presidency)
The president promised to iron out any hurdles facing the company in Egypt, Presidential spokesman Bassam Rady said in a statement on Thursday.
Sisi made the remarks during a meeting with a delegation from the Italian company led by CEO Claudio Descalzi in the presence of Minister of Petroleum and Mineral Resources Tarek El Molla.
The president lauded the partnership with the Italian company and its activities in Egypt that are carried out in accordance with the latest standards, Rady added.
Descalzi stressed that the Egyptian market is one of the most important markets the company is operating in worldwide in light of the promising investment opportunities now available in the energy sector.
The CEO reviewed the current cooperation between the company and Egypt especially in regard to natural gas production and liquefied natural gas (LNG) exports.
He lauded Egypt’s boom in the domain of LNG, saying it now occupies a pivotal position in the Mediterranean region.
The meeting further tackled Eni's contributions in the new and renewable energy domain, especially in regard to green hydrogen production in light of Egypt's scheduled hosting of the 2022 United Nations Climate Change Conference (COP27) in November in Sharm El-Sheikh city.
In recent years, Eni has taken part in important oil discoveries in the country's the Western Desert as well as the operation of gas plants, as Egypt aims to become a regional energy hub.
In 2015, the Italian energy giant discovered the giant Zohr gas field – the biggest-ever in the Mediterranean – which hold an estimate of 30 trillion cubic feet of gas.
It has also helped Egypt reach self-sufficiency in gas and pursue being a regional hub for gas exports.
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