Eni to boost oil, gas production in Egypt

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Arab Finance: The Egyptian Ministry of Petroleum and Mineral Resources has agreed with the Italian energy giant Eni to boost the company’s oil and gas exploration operations in Egypt, as per an official statement.

The announcement was made during a meeting between the Egyptian Minister of Petroleum and Mineral Resources Karim Badawy and Head of North Africa and Levant Region at Eni.

During the meeting, both sides agreed to develop Eni’s oil and gas fields at its Egyptian concessions, in addition to increasing the number of operating rigs.

They have also agreed on capitalizing on Egypt’s position as a regional energy trading hub to receive the gas produced at Eni’s fields in the Eastern Mediterranean and export it via the firm’s existing facilities in Egypt.

Earlier this month, it was reported that Eni is planning to drill two new wells in the Zohr field in the second half (H2) of 2025, with investments estimated at $160 million.