Spokesman for the Egyptian Presidency official facebook page
Descalzi said his company seeks to expand existing fields and pursue new exploration projects in cooperation with its partner, according to a presidential statement.
President El-Sisi expressed appreciation for the company’s long-standing role in Egypt’s energy sector, highlighting that Eni currently contributes around 40 percent of Egypt’s natural gas production.
He also praised the company’s social responsibility programs, which support development initiatives countrywide, the statement added.
El-Sisi emphasized the importance of continuing the strategic partnership with Eni by expanding exploration and production activities to maximise Egypt’s natural resources.
He also reaffirmed the state's commitment to settling dues owed to foreign partners, describing this as essential for supporting further investment and expansion in the energy sector.
Descalzi voiced his appreciation for what he described as a productive partnership with Egypt, commending government efforts to facilitate investment and improve the business climate.
He also reaffirmed Eni’s commitment to strengthening its presence as one of the largest energy players in Egypt, citing promising opportunities in both domestic production and export.
The meeting reviewed the company’s ongoing projects in Egypt, its exploration and gas production plans, and future investment prospects.
Discussions also touched on linking Cyprus’ Cronos field to Egypt’s gas infrastructure to reinforce the country’s position as a regional hub for energy and liquefied natural gas.
Eni's role in Egypt’s energy sector has been pivotal since it discovered the Zohr gas field in 2015. This significant finding has allowed Egypt to achieve gas self-sufficiency by 2018.
In 2023, the company committed to investing $7.7 billion in Egypt over the next four years to advance its exploration and production activities further.
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