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Eni reaffirms its commitment in Egypt


Eni has reaffirmed its commitment to continue working in Egypt following recent agreements that cover both exploration and development in the country.

Eni CEO Paolo Scaroni recently meet the Egyptian Prime Minister HE Essam Sharaf in Cairo to discuss Eni continued involvement in Egypt, following the recent agreements.

The new activities will take place in the Western Desert, in the Mediterranean and in the Sinai, and will cover both exploration and development, through the drilling of additional wells and the acceleration of production from new discoveries.

With these additional activities, Eni's investment in Egypt in the years 2011 and 2012 will amount to approximately US$3 billion. Eni will also sponsor a training plan for national staff working in the Petrobel and Agiba joint ventures with EGPC, the company said in a statement.

Eni is the first international operator in Egypt with total operated production of around 500 thousand boe/day.