El Sisi and Eni’s Descalzi Discuss Billions in Upcoming Investment

Friday, September 8, 2023

Egyptian President Abdel Fattah El Sisi, Eni CEO Claudio Descalzi and Tarek El Molla, Minister of Petroleum and Mineral Resources, met this week to discuss the Italian firm’s ongoing activity in the country and its intention to invest over $7.7 billion in the coming four years.

Descalzi said that Egypt represents one of the most important markets for the company’s activities. He also said that Eni would continue its work in research, exploration, development and production as well as energy efficiency and sustainability projects related to the energy transition, in line with the memorandum of understanding that was signed in March 2023.

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