Egypt, Eni Ink MoU to Enhance Cooperation in Port Said Area

Egypt inked a binding memorandum of intent (MoI) with Italian energy company Eni in order to strengthen their strategic cooperation in the Port Said area.

The MoI was inked by Salah Abdel Karim, CEO of the Egyptian General Petroleum Corporation (EGPC), and Francesco Gasparri, Eni’s General Manager in Egypt, in the presence of Egypt’s Minister of Petroleum Karim Badawy and Eni’s Deputy General Manager, Mahmoud Abou El Yazid.

According to a statement issued by the Petroleum Ministry on Thursday, Badawy said the MoI underscores Egypt’s strategic partnership with Eni and strengthens the company’s presence in the Port Said region.

“The agreement supports our efforts to provide an attractive investment environment, accelerate exploration and development of untapped resources, and maintain existing facilities critical to production stability,” he noted.

The agreement covers the strategic North Port Said – El Gamil Onshore facilities, a key gas processing hub supporting both ongoing and future projects, the statement read.

The MoI aligns with Egypt’s broader strategy to attract foreign investment in its energy sector, expand gas resource development, and safeguard strategic infrastructure, it added.