Italy's Eni to invest $8B in Egypt over 5 years: Descalzi
Updated 11/26/2025 8:38:00 AM
Arab Finance: Italy’s Eni plans to inject additional investments totaling $8 billion into the Egyptian market over the next five years, CEO Claudio Descalzi said in a meeting with President Abdel Fattah El-Sisi.
This sum will be invested in developing existing fields in the country as well as undertaking further exploration, Descalzi added.
Moreover, Descalzi hailed the exerted efforts of the Egyptian government to facilitate procedures for investors, which benefits both parties.
During the meeting, El-Sisi lauded the company's role in backing numerous development projects in Egypt.
He emphasized that cooperation with the Italian company aims to achieve optimal utilization of Egypt's natural resources and the gas and energy sector.
The president also affirmed the state’s commitment to paying the dues of foreign partners, considering this essential for supporting the company's efforts to expand in production and exploration.
Spokesman for the Presidency Mohamed El-Shennawy revealed that Eni contributes about 40% to Egypt's natural gas production.
The meeting also touched upon the latest developments in the company's work, activities, and projects in Egypt, as well as its plans for gas exploration and production in the country.
The talks highlighted Eni’s commitment to enhancing its relationship with Egypt, in light of the country’s key role as a regional hub for energy trade and liquefied natural gas (LNG) production.
Furthermore, the discussions tackled Eni's intention to invest in other sectors, such as mining, in the coming period.
Both sides reviewed the developments in the linkage of the Cypriot Cronos field with Egyptian infrastructure to bolster Egypt's position as a regional energy and gas trade hub.
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