Sisi Hails 'Distinguished' Egyptian-Italian Ties

Egypt's President Abdel Fattah El-Sisi received Mr. Claudio Descalzi, CEO of the Italian company Eni, and a number of the company’s senior officials, in the presence of Tarek El-Molla, Minister of Petroleum and Mineral Resources.

During the meeting, Preaident Sisi stated  valued during the distinguished Egyptian-Italian relations, as well as the extended partnership with Eni, and the company's various activities in Egypt in accordance with the highest international standards.

Moreover, Sisi Expressed his aspiration to continue fruitful cooperation between Egypt and the company in the fields of research, exploration, development and production, with the aim of achieving optimal exploitation of Egypt’s resources from the energy sector, and consolidating the great successes achieved in this regard over the past few years.

On his part, Eni CEO expressed his pride in cooperating with Egypt, in light of the close ties between Egypt and Italy.

He also highlighted the great importance that Egypt represents as one of the most key markets for the company’s activity and work worldwide, in light of the promising opportunities enjoyed by the energy sector in Egypt, and the great interest paid by state and the president to develop this vital sector and maximize its returns.

In this context, Descalzi reviewed the developments in the activities carried out by the Italian company in Egypt, noting that Eni and its partners intend to make new investments in Egypt, during the next four years, at a value of 7.7 billion dollars, as part of the company’s keenness to promoting its successful projects in Egypt.

Furthermore, the Italian company CEO also reviewed the upcoming research and exploration plans that the company will undertake, and the development operations activities that will enable Eni to maintain large production rates from the fields.

He also pointed to the progress achieved in energy efficiency and sustainability projects related to the energy transition, in accordance with the memorandum of understanding that was signed in March 2023.