This visit comes as an affirmation of the importance of the strategic partnership between the two sides, and Egypt’s efforts to attract more investments in the energy sector, which contributes to achieving economic development and securing energy supplies in the region as part of Egypt’s efforts as a regional energy hub.
For its part, the Italian company “Eni” confirmed that three drilling rigs belonging to the “Agiba Petroleum Company” will start operating in the second week of this month with the aim of returning production rates to their levels.
The visit included an extended meeting with the CEO of Eni, Claudio Descalzi, a field visit to the research department and electronic laboratories, as well as an extended meeting with the new energy, biofuels, carbon capture and storage, and asset preservation team.
Eni officials expressed their pride in the strategic partnership with Egypt, and praised the positive developments in the Egyptian oil sector, and the efforts to provide a stimulating investment environment, stressing the Italian company’s keenness to strengthen its presence in the Egyptian market and explore more investment opportunities.
The two sides stressed the importance of continuing dialogue and ongoing coordination to enhance joint cooperation, in order to achieve the strategic goals of both parties in the energy sector.
Agiba Petroleum Company aims to pump investments worth $500 million during the current fiscal year (2024-2025), in order to reach a production rate of 30,000 barrels of crude oil per day and 119 million cubic feet of gas.
Plans to increase oil and gas production in Egypt through the fields of Agiba Petroleum Company include drilling 7 exploratory wells in the areas of Maliha and southwest Maliha during the current fiscal year.
Source: Money
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2024-09-04 14:38:38
