Egypt began drilling the first well under a new investment programme by Italy's Eni SpA, as the government steps up efforts to boost domestic energy output and curb fuel imports. Petroleum and Mineral Resources Minister Kareem Badawy inspected drilling at the Bala'eem Marine-133 well in the Gulf of Suez, the ministry said. The well is being drilled using the Trident 16 jack-up rig operated by Shelf Drilling, targeting a depth of more than 2,600 metres. The well marks the start of Eni's new investment plan covering the Gulf of Suez, Sinai, and the Nile Delta, following an agreement signed in November with the Egyptian General Petroleum Corporation (EGPC) to inject fresh capital. Badawy said the launch of the programme reflects Eni's confidence in Egypt, where the Italian group is the country's largest energy investor, and underscores its commitment to expanding exploration and production to increase crude output and reduce import costs. Operations in the area are being carried out by Petrobel on behalf of EGPC and Eni. The company has deployed advanced drilling and production technologies aimed at unlocking additional reserves and extending the productive life of mature fields, the ministry said. Attribution: Amwal Al Ghad English
