Petroleum Minister Sherif Ismail and CEO of Italy's Eni Claudio Descalzi Saturday signed an agreement to develop and explore oil fields at investments worth five billion dollars.
Under the agreement, gas production will gradually increase to 900 million cubic feet over the coming four years, Ismail told MENA.
The agreement was signed on the fringe of the Egyptian Economic Development Conference (EEDC), currently held in the Red Sea resort of Sharm el Sheikh.
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Egypt can generate up to 53% of power sources by 2050Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
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