CAIRO, Nov 25 (MENA) – President Abdel Fattah al-Sisi on Tuesday welcomed Claudio Descalzi, the CEO of Italy’s Eni, praising the long-standing partnership between the government and the energy company, which accounts for about 40 percent of Egypt’s natural gas output, according to a presidential statement.
Sisi commended Eni’s social responsibility programs, noting the company’s support for a range of development projects across the country. The meeting was attended by Prime Minister Mostafa Madbouly, Petroleum and Mineral Resources Minister Karim Badawi, along with senior Eni executives, including Guido Brusco, chief operating officer for natural resources, and Francesco Gasparri, the company’s general manager in Egypt.
Presidential spokesperson Mohamed al-Shennawy said Sisi expressed appreciation for Eni’s contribution to Egypt’s gas sector and welcomed the company’s continued investment. Descalzi, for his part, highlighted the strong cooperation with Egyptian authorities and said the government’s steps to facilitate investment had benefited both sides.
According to Shennawy, Descalzi told President Sisi that Eni and its partners plan to inject a further $8 billion into Egypt over the next five years. The investments will target the development of existing fields as well as new exploration activities.
Badawi praised the company’s expanding operations, saying Eni had increased production in recent years and continued to play a significant community role. The talks also reviewed updates on the company’s projects in Egypt and future exploration plans, reaffirming Eni’s commitment to its strategic partnership with Egypt as the country positions itself as a regional hub for natural gas and LNG.
The two sides discussed potential investments in mining and reviewed progress on linking Cyprus’s Kronos gas field to Egyptian infrastructure, a move aimed at boosting Egypt’s role as an energy and gas-trading center.
Sisi stressed the importance of sustaining cooperation with Eni by expanding exploration, development and production efforts to maximize Egypt’s natural resource potential. He reaffirmed that Egypt remains committed to settling dues owed to foreign partners, describing timely payments as essential for supporting expanded investment in exploration and production.
