President Abdel Fattah El-Sisi expressed support for Italian multinational oil and gas company Eni’s plans to expand its investment activities in Egypt in the fields of gas and oil exploration and production as part of the fruitful cooperation between the Italian company and Egypt and in light of the interest the state attaches to the development of this vital sector.
The President’s remarks came as he received Eni’s Chief Executive Officer Claudio Descalziin the presence of Minister of Petroleum Tarek el-Mulla and a number of senior company officials, Presidency Spokesman Ambassador Bassam Radi said.
During the meeting, the President followed up o the activities of the Italian company in the field of oil and gas exploration and production in Egypt and highlighted Egypt‘s efforts to become a regional hub for energy trade.
For his part, Mr. Descalzi reviewed the present and future activity of Eni in Egypt, which is one of the country’s most important partners across the world and is at the forefront of the volume of its foreign investments.
He expressed his aspiration for continued development of the company’s activity in Egypt in the fields of oil and gas exploration and production, especially in light of Egypt’s strategic location and infrastructure that qualifies it to play the role of a regional energy hub.
The re-operation of the liquefied natural gas station in Damietta city with full capacity and export to all international markets was also reviewed as it provides an added value for Egypt in the field of liquefied gas and strengthens its position in the production and trading of gas from the eastern Mediterranean to the world.