Minister of Petroleum Tarek el Molla discussed with a delegation from Italy’s oil and gas giant Eni the company’s preparations to pump new investments in Egypt’s Gulf of Suez and Nile Delta regions as per a deal signed in December on oil exploration.

The delegation groups Eni’s Chief Operating Officer of Natural Resources Guido Brusco, Regional Manager for North Africa Antonio Panza and Deputy of Chief Operating Officer of Natural Resources Cristian Signoretto.

Molla discussed with the delegation the company’s activities in Egypt and its current and future projects and investment programs as part of a plan outlined to boost the production levels of oil wells, according to a statement by the Petroleum Ministry on Friday.

The two sides tackled the development plans of a number of wells and the status of the company’s new concession areas in Egypt which it won as per the first digital oil bid launched through the country’s exploration and production (E&P) digital data repository.

The latest developments of global oil prices and their impacts on opportunities of increasing investment were also discussed in the meeting.

Molla said the petroleum sector is currently working with its foreign partners, including Eni, to prepare for the initiatives that will target bringing down emission at the petroleum sites.

Meanwhile, Eni’s Brusco hailed fruitful cooperation and partnership between the company and the Egyptian petroleum sector, saying that the company considers Egypt as a key destination for its investments in North Africa and the Mediterranean Sea region.

Source: State Information Service Egypt