Arab News: Italian energy firm Eni plans to invest $2 billion in Egypt’s energy sector during 2026, the firm’s chief operating officer has revealed.
The investment was outlined by Guido Brusco during a meeting with the North African country’s Prime Minister Mostafa Madbouly on the sidelines of the Egypt Energy Show, held from March 30 to April 1, according to an official release published by the State Information Service.
The move aligns with broader expansion plans outlined by Eni CEO Claudio Descalzi, who said in April 2025 that the company intends to invest about $26.24 billion across Algeria, Libya and Egypt over the next four years to boost hydrocarbon production.
“Eni also plans to inject new investments worth $2 billion in Egypt during 2026,” the release said, citing Brusco.
It added: “Brusco noted that Eni’s strategy is based on intensifying exploration efforts, accelerating production from current projects in Egypt, and maintaining its social responsibility role, particularly in the health sector.”
Brusco praised the Egyptian government for its cooperation and recent economic reforms, saying they have improved the investment climate and strengthened international investor confidence.
The energy firm also signed a memorandum of understanding with Egypt’s Ministry of Health to develop a 400-bed Heliopolis Hospital serving around 1 million people as part of its social responsibility efforts.
Madbouly affirmed the Egyptian government’s commitment to creating an attractive investment climate for foreign investment in the oil and gas sectors, pledging full support for international companies operating in the North African country.
He also expressed his aspiration for Eni to expand its investments in Egypt in the coming period, particularly given the promising prospects in the country’s oil and gas sectors.
The prime minister further noted the significance of the strategic partnership between the Egyptian government and Eni in oil and gas production, expressing hope to fast-track output from the company’s gas projects to meet rising domestic demand, while reaffirming its status as a highly trusted partner.
In October, Egypt’s Ministry of Environment, through the Bioenergy Foundation for Sustainable Development, signed a cooperation agreement with Eni to advance biogas production and support the country’s clean energy transition.
The agreement aimed to prepare a comprehensive feasibility study for establishing biogas production units that process agricultural and animal waste, the Petroleum and Mineral Resources Ministry said in a statement at the time.
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