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Eni's $4B investment for energy security
The article discusses Egypt's efforts to strengthen energy security and increase the production of oil and natural gas through investments by Eni and development plans for refining facilities exceeding $4 billion. These plans include drilling 30 exploratory wells and 200 developmental wells, as well as expanding seismic surveying and artificial intelligence technologies to support increased production and reduce fuel imports. It also emphasizes the importance of regional cooperation, particularly connecting the Cypriot "Cavos" field to Egyptian infrastructure, to enhance Egypt's position as a regional hub for gas trading and export. Investments have soared to approximately $8.5 billion, with work continuing until December 2026 to improve the efficiency of the energy production system.
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