Ambassador Mohamed El Shenawy, the official spokesperson for
the Presidency, stated that the President began the meeting by welcoming the
CEO of Eni and expressing his appreciation for the ongoing cooperation between
the Egyptian state and Eni, noting that the Italian company contributes around
40% of Egypt’s natural gas production. The President also praised the company’s
social role through its support for various development projects in Egypt.
The spokesperson added that the CEO of Eni affirmed his
pride in the fruitful cooperation between the two sides. He praised the
Egyptian government’s efforts to facilitate investors, benefiting both parties,
and reiterated his company’s commitment to strengthening its role as one of the
largest players in Egypt’s energy market, given the promising opportunities in
both domestic production and exports.
Descalzi indicated that the company, in cooperation with its
partners, intends to inject additional investments in the Egyptian market,
totaling $8 billion over the next five years, focusing on developing existing
fields and carrying out further exploration.
El Shenawy explained that the Minister of Petroleum and
Mineral Resources commended the existing cooperation with Eni, appreciating the
company’s interest in increasing collaboration with the Egyptian government
through the recent expansion of production activities. He also praised the
company’s activities in Egypt, both in the petroleum sector and its social
initiatives supporting local communities.
The spokesperson added that the meeting also reviewed
updates on the company’s operations and activities, its projects in Egypt, as
well as its future plans for gas exploration and production. The company
reaffirmed its commitment to its strategic relationship with Egypt, given the
country’s pivotal role as a regional hub for energy and liquefied natural gas
(LNG). The discussion also covered the company’s plans to invest in other
sectors, such as mining, in the coming period, and reviewed progress on
connecting the Cypriot Kronos Gas Field to Egypt’s infrastructure to enhance
Egypt’s position as a regional center for energy and gas trade.
For his part, the President stressed the importance of
continuing the fruitful cooperation between Egypt and the company by expanding
research, exploration, and production activities in Egypt, aiming to achieve
optimal utilization of Egypt’s natural resources and the gas and energy sector,
reflecting the Egyptian government’s commitment to continuously improving the
investment climate.
The President also emphasized the state’s commitment to
paying the dues of foreign partners, considering this essential to support the
company’s efforts to expand production and exploration.