Monday, 25 May 2026
Egypt welcomes $8 billion investment from Italian energy giant Eni
Egyptian Prime Minister Dr. Mostafa Madbouly expressed enthusiasm for Italian energy company Eni’s plan to invest $8 billion in the Egyptian market over the next five years. During a meeting at the government’s headquarters in the New Administrative Capital, Madbouly urged Eni to accelerate exploration and field development activities, pledging full governmental support to expedite the implementation of this ambitious plan.
The meeting, attended by Egypt’s Minister of Petroleum and Mineral Resources, Eng. Karim Badawi, and several Eni representatives, focused on the company’s investment strategy in Egypt. Madbouly praised the longstanding cooperation between the Egyptian government and Eni, noting the company’s significant contribution to Egypt’s energy sector, accounting for approximately 40% of the country’s natural gas production. He highlighted the support of President Abdel Fattah El-Sisi for Eni’s operations and expressed eagerness to deepen this partnership, particularly in light of the company’s substantial investments.
Minister Badawi commended Eni’s commitment to expanding production and collaboration with the Egyptian government. He also acknowledged the company’s contributions to local communities through social initiatives, particularly in the petroleum sector.
Guido Brusco, Eni’s Chief Operating Officer for Natural Resources, praised the Egyptian government’s support for companies in the petroleum sector and its commitment to settling dues owed to foreign partners, which he described as crucial for enabling Eni’s expansion in production and exploration. Brusco emphasized Egypt’s favorable investment climate, noting the country’s ability to streamline production processes and bring fields online faster than other markets.
Brusco announced that Eni, in collaboration with its partners, plans to invest $8 billion over the next five years to develop existing fields and conduct further exploration. Additionally, he revealed Eni’s interest in diversifying into new areas, such as mining for rare minerals, with plans to explore investment opportunities in this sector. Brusco also highlighted Eni’s social responsibility efforts, particularly in healthcare, to support local communities in Egypt.