Africa-Press. The Italian company announced on Tuesday that it intends to drill 30 exploratory wells as well as 200 developmental wells in the upcoming phase in Egypt.
This announcement came during a meeting in El Alamein, where the Egyptian president met with the CEO of the Italian company, according to a spokesperson for the presidency.
The spokesperson stated in a statement that the president praised the existing partnership with the Italian company and its various activities in Egypt, whether in the fields of research, exploration, or in the company’s community role, according to a local source.
The president expressed his hope for the company to continue increasing its investments in Egypt, which enhances Egypt’s role as a regional gas hub and reflects the strength of cooperation between Egypt and Italy. He emphasized Egypt’s commitment to providing necessary facilitation for the company and overcoming any challenges it faces in the country.
The spokesperson mentioned that the CEO of the Italian company confirmed his company’s commitment to enhancing its role as the largest energy company operating in the Egyptian market, noting that the company’s total investments in Egypt have reached 8.5 billion dollars. He pointed out the company’s success in establishing its presence as a key partner in research, exploration, development, and production of crude oil and natural gas.
The CEO reviewed the status of the company’s projects and activities across several key production and exploration areas in Egypt, highlighting the company’s ongoing implementation of a comprehensive investment program that focuses on research, exploration, development, and operations in its various concessions throughout the country, including the Mediterranean Sea and the Zohr field.
He emphasized the importance of connecting the Cypriot Kronos field to the Egyptian infrastructure, which he described as a model for regional cooperation in the gas sector, enhancing Egypt’s gains as a regional gas trading hub.
The spokesperson noted that the meeting included a review of the latest developments in the company’s operations and projects in Egypt, as well as its future plans to intensify exploratory and developmental drilling programs during 2026-2027, particularly in the Mediterranean Sea and the Western Desert, to increase natural gas and crude oil production using the latest seismic survey technologies and artificial intelligence.
