The announcement followed a meeting in the new administrative capital in Cairo on Thursday between Prime Minister Mostafa Madbouly and Guido Brusco, Eni’s Chief Operating Officer for Global Natural Resources.
Petroleum Minister Karim Badawi and other officials attended the meeting.
Brusco outlined Eni’s ongoing and future activities in Egypt, highlighting plans to extend production from mature onshore fields using advanced subsurface technologies and launch new drilling under the recently extended Temsah concession.
He stressed that Eni’s exploration strategy will leverage existing infrastructure to maximise efficiency and contribute to Egypt’s energy security.
The company also reiterated its commitment to supporting Egypt’s ambition to grow as a regional gas hub. It stated that it would utilise its liquefaction and processing facilities to serve both domestic projects and international ventures, including the Cronos discovery offshore Cyprus.
Prime Minister Madbouly welcomed Eni’s new investment pledge in turn and urged the company to accelerate exploration and field development.
He expressed hope to deepen this cooperation, particularly given the company’s significant investments in the Egyptian market, noting that the Italian firm contributes around 40 percent of Egypt’s natural gas production.
The meeting coincided with the Health, Safety, and Environment (HSE) Safety Day, co-hosted by Eni and the Ministry of Petroleum, to promote a culture of safety and sustainability across the sector.
Eni, operating in Egypt through its subsidiary IEOC, is the country’s largest hydrocarbon producer, with an average output of approximately 280,000 barrels of oil equivalent daily in 2024.
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