Cairo – Mubasher: Italian multinational oil and gas company Eni is planning to invest $3 billion in Egypt over the coming period, CEO Claudio Descalzi said.
He added that the company’s investments in the fields of Nooros and Zohr stood at $8.4 billion thus, according to a statement by the Egyptian petroleum ministry, citing the top official as saying.
The Italian energy firm has allocated 70% of its overseas investments to Egypt, Descalzi highlighted.
This came on the sidelines of a meeting between petroleum minister Tarek El-Molla and Eni’s CEO Claudio Descalzi to review the Italian company’s research, exploration, and production activities in the most populous Arab country.
In May, Eni unveiled a new oil discovery on the A-2X exploration prospect located in South West Meleiha licence, in Egypt’s Western Desert.
