Eni to step up Egyptian activity

Eni has reaffirmed its commitment to exploration and production offshore and onshore Egypt, following recent agreements with the government.

Offshore staff

CAIRO, Egypt – Eni has reaffirmed its commitment to exploration and production offshore and onshore Egypt, following recent agreements with the government.

The company will participate in new activities in various regions including the Mediterranean Sea. These will include drilling of additional wells and acceleration of production from new discoveries.

With these additional activities, the company expects to lift its investment in Egypt during 2011-12 to around $3 billion.

It will also sponsor a training plan for national staff working in the Petrobel and Agiba joint ventures with EGPC.

Eni has total operated production in Egypt of around 500,000 boe/d.

07/12/2011

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