Eni signs MoI with Egyptian Egas for collaboration on emissions reduction, gas enhancement

Eni has signed a Memorandum of Intent (MoI) with the Egyptian Natural Gas Holding Company (Egas) for collaboration on emission reduction technologies in the oil sector and a plan of initiatives aimed at further gas enhancement.

This is according to an Eni note regarding the meeting held today in Cairo between the President of the Arab Republic of Egypt, Abdel Fattah El-Sisi, and the CEO of the Italian group Claudio Descalzi to further explore areas of common interest and collaboration.

"The main topics discussed were Eni's current and future activities in Egypt, with a focus on the ongoing exploration campaign, the preliminary results of which are already positive, and which has the potential to enable exports to increase rapidly by leveraging the capacity available in the company's assets on the Mediterranean coast," the note explains.

Also central to the discussions were issues on energy transition and decarbonization of Egypt's energy sector.

Eni is the largest producer in Egypt with hydrocarbon production of about 350,000 barrels of oil equivalent per day.

(Andrea Mandalà, editing Stefano Bernabei)