Arab Finance: Italian energy company Eni plans to drill 30 exploration wells and 200 development wells in Egypt over the upcoming period as it intensifies its exploration and production activities for 2026 and 2027, as per a statement.

The plans were reviewed during a meeting between Egyptian President Abdel Fattah El-Sisi and Eni CEO Claudio Descalzi in El Alamein on August 25.

Descalzi said Eni’s total investments in Egypt had reached $8.5 billion, reaffirming the company’s commitment to strengthening its role as the largest energy company operating in the Egyptian market.

He revealed that Eni’s upcoming drilling program will focus particularly on the Mediterranean Sea and the Western Desert, with the company seeking to increase natural gas and crude oil production using advanced seismic surveying technologies and artificial intelligence (AI).

The program covers research, exploration, development, and operations across Eni’s concession areas nationwide, including the Zohr gas field.

Descalzi also reviewed the progress of the company’s projects across several of Egypt’s major production and exploration areas.

During the meeting, El-Sisi called on the company to continue increasing its investments in Egypt and said the government remained committed to facilitating its operations and addressing any challenges it faces in the country.

The Egyptian President also stressed the importance of expanding exploration and production activities to support regional integration and reinforce Egypt’s role as a center for gas trading, liquefaction, and exports.

The discussions extended to progress on linking Cyprus’ Cronos gas field to Egyptian infrastructure. The project is expected to transport gas from the offshore field to Egypt for processing through existing Zohr facilities and subsequent liquefaction at the Damietta liquefied natural gas plant.