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Business meetings and agreements | Upstream

Egyptian Prime Minister Sheriff Ismail meets Eni CEO Claudio Descalzi

01 August 2017 5:10 PM CEST

Cairo (Egypt), 01 August 2017 – The Egyptian Prime Minister Sherif Ismail met today with Eni's CEO Claudio Descalzi.

 

The meeting, also attended by the Minister of Petroleum and Mineral Resources Eng. Tarek El Molla, focused primarily on the future of Zohr's mega field and the positive impact it will have on the national energy economy. Eni CEO Claudio Descalzi outlined the progress being made with the rapid development of the project: thanks to the significant operational synergies that Eni has been able to exploit with its facilities in the area, the development of Zohr is 80% complete less than two years after the discovery was made, a record in the oil industry.

 

With a potential of 850 billion cubic meters of gas in place, not only will Zohr be able to satisfy almost all of the total domestic gas demand for the coming decades, .it will also allow Egypt to return to being a net energy exporter.

 

Eni has been present in Egypt since 1954, operating through its subsidiary IEOC. The company is the main producer in the country with production reaching approximately 230,000 barrels of oil equivalent per day.

Download the press release (PDF)

PDF 55.12 KB 01 August 2017 CEST 17:10
PDF 55.12 KB