By: Ashraf Sadek Cairo, March 7, 2018 - Egypt is keen on bolstering energy and oil co-operation with Italy, President Abdel Fattah El-Sisi said in Cairo on Wednesday during his talks with a senior Italian company official. President Sisi told Claudio Descalzi, the Chief Executive Officer of the Eni oil company, that Egypt had drawn up comprehensive plans to ensure its future energy security, which is a cornerstone for national development. Egypt is keen on co-operating with Italy, in the field of energy, on the basis of mutual benefit through the implementation of joint investment and development projects in oil and natural gas, Presidential Spokesman Ambassador Bassam Radi told reporters after the Sisi-Descalzi meeting. President Sisi said that oil and natural gas had been an important agenda item in Egypt's development and investment plans. President Sisi thanked Mr. Descalzi for his company's efforts to operate Zohr in a record time. President Sisi expressed the keenness of Egypt for the company to continue its work and make more discoveries. He also directed the Petroleum Ministry to cooperate with Eni and remove any obstacles that might impede the progress of its works in Egypt, Ambassador Radi said. Following the meeting, which was attended by Prime Minister Sherif Ismail, Oil Minister Tarek el-Malla and Acting Intellegence Authority Chief, Abbas Kamel, Descalzi said that Eni planned to launch more ventures pertaining to oil prospecting in Egypt. He also said that his talks with President Sisi dealt with the latest developments pertaining to Egypt's giant offshore Zohr field, which was discovered by Eni in 2015 and which would turn Egypt into a regional energy hub. He said that Egypt is one of the most important markets for his company as it has promising opportunities in the energy and renewable sectors. The development of Zohr in a record time has brought a new critical source of energy to the Egyptian market. The offshore field would save Egypt some $1 billion per annum in gas imports.
