Oil Egypt accountACCOUNT King Tut

Eni's Overall Investments in Egypt Total $13 Billion Since 2015

Source: Ahram Online 1/16/2019, Location: Egypt

Share |
Major Italian oil company Eni has had overall investments of $13 billion in Egypt since 2015, the CEO of the company Claudio Descalzi told Egyptís President Abdel-Fattah El-Sisi in a meeting in Cairo.

In an official statement, Egyptian presidency spokesman Bassam Rady said that Descalzi told El-Sisi about the companyís plan to increase investments in the coming period.

The meeting was attended by Egyptian Minister of Petroleum Tarek El-Molla and intelligence chief Abbas Kamel.

El-Sisi praised Eniís efforts in contributing to the optimisation of Egyptís resources in natural gas, praising Egyptís cooperation and partnership with Italy.

During the meeting, Eniís CEO said that production from the giant Mediterranean gas field Zohr, which was discovered in 2015, is moving in accordance with the set timeframe.

The mammoth discovery, estimated to hold about 30 trillion cubic feet of gas, has raised interest in gas exploration in Egypt.

In 2018, Egypt said it achieved self-sufficiency in natural gas consumption in September due to the gradual increase in local production and the plan to develop major gas fields in the Mediterranean.

Egypt aims to become a regional gas hub, with announced plans to start exporting gas in 2019 through output from other newly discovered gas fields.

Egypt >>  4/16/2019 - A finance ministry report on Egyptís new budget (2019/20) showed that fuel subsidies will be reduced by EGP 36.112 billion (40 percent) in the new fis...
Egypt >>  4/15/2019 - In the course of Atomexpo-2019 International Forum, TVEL Fuel Company of Rosatom and the Egyptian Atomic Energy Authority signed the contract for supp...

Egypt >>  4/8/2019 - SDX Energy plc announces, the current targeted start-up date for gas production at South Disouq of mid-year 2019 is based on an overall development co...
Egypt >>  4/8/2019 - The Egyptian Nuclear Plants Authority (NPPA) was granted a site permit for the building of El Dabaa nuclear power plant, said head of the Nuclear Powe...

Egypt >>  4/7/2019 - Minister of Petroleum and Mineral Resources Tarek el Mullah conferred with his Saudi counterpart Khaled el Faleh on means of boosting joint cooperatio...
Egypt >>  4/5/2019 - Minister of Petroleum and Mineral Resources Tareq el Molla has discussed in a meeting with Jordanian Minister of Energy and Mineral Resources Hala Zwa...

Related Categories: Accounting, Statistics  Asset Portfolio Management  Economics/Financial Analysis  General  Investment Services  Risk Management 

Related Articles: Asset Portfolio Management  Economics/Financial Analysis  General  Investment Services 

More News

Oil & Gas Companies in Egypt >>

Related Links

Oil Egypt E-Marketplace - Subscription Packages - Benefits

Copyright © Universal Solutions S.A.E. All rights reserved. Privacy Policy. - Career Opportunities - Feedback - Contact Us