Sigma Capital

12-02-2026

Minister of Petroleum discusses with Eni officials plans to increase production and connect Cypriot fields

Source: MIST

Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, received a high-level delegation from Italy’s Eni, including Mr. Diego Portoghese, Head of North Africa and the Middle East, Francesco Gaspari, President of Eni’s subsidiary AIOC Production, and Engineer Mahmoud Abou El-Yazid, Vice President of the company in Egypt.

The Minister emphasized that the government prioritizes developing a commercial model with attractive investment incentives aimed at doubling crude oil production. He stressed the need to adopt non-traditional working methods and utilize modern technologies to achieve a breakthrough in production rates.

The meeting also reviewed the status of the project to connect the Cypriot Cronos gas field to Egypt’s infrastructure, as part of strengthening Egypt’s role as a regional hub for energy trade and distribution.

The Minister praised the level of cooperation with Eni in its Egyptian operations, particularly in intensifying efforts to bring new wells into production as quickly as possible, thereby helping secure the local energy market’s needs.

At the conclusion of the meeting, Eni officials expressed appreciation for the strong strategic relationship and ongoing cooperation with the Ministry and Egyptian authorities.

The meeting was attended by Engineer Salah Abdel Karim, CEO of the Egyptian General Petroleum Corporation, Engineer Sayed Selim, Executive Managing Director of the Egyptian Natural Gas Holding Company (EGAS), Dr. Mohamed El-Bagoury, Head of the Central Legal Affairs Department at the Ministry, and Engineer Mahmoud Abdel Hamid, Advisor to EGAS.