Sisi, Eni's CEO Discuss Gas, Oil Exploration Co-op

President Abdel Fattah El Sisi received Thursday Chief Executive Officer of Eni, an Italian energy company, Claudio Descalzi, in the presence of Minister of Petroleum and Mineral Resources Eng. Tarek El-Molla and several senior corporate leaders.

The meeting followed upon the activities of the Italian company “Eni” in the field of gas and oil exploration and production in Egypt, in light of its efforts to be turned into a regional center for the trade and circulation of all types of energy, according to Presidency Spokesperson Bassam Rady.

Sisi expressed his support for Eni's endeavor to expand its investment activities in Egypt in the fields of gas and oil exploration and production, in continuation of the fruitful cooperation between the Italian company and Egypt.

Moreover, Sisi stressed that intensive cooperation with Eni must be continued and its activities and efforts be strengthened.

For his part, Descalzi showcased Eni’s current and future activities in Egypt, one of the company’s most important partners across the world, making up a significant proportion of its foreign investments.

He also expressed that he looks forward to further developing and growing Eni’s activity in Egypt in the fields of oil and gas exploration and production, especially in light of Egypt's strategic location and infrastructure qualifying it to play the role of the regional energy center, supported by the factors of security, stability, and wise leadership of Sisi.

Hence, Egypt has established joint regional projects in the field of energy, such as connection networks and others.

The re-operation of the liquefied natural gas (LNG) station in Damietta City with full capacity and the export to all international markets were discussed. This provides an added value to Egypt in the field of liquefied gas and strengthens its position in the production and trading of gas from the eastern Mediterranean to the entire world.

Furthermore, the meeting discussed joint cooperation with Eni on the production of hydrogen for power generation in Egypt. This is underpinned by the state's efforts to attract foreign direct investments when it comes to the modern uses of new and renewable energy and to make optimum use of the various natural resources that Egypt enjoys.