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Former Petroleum Minister endorses Eni's investments
Former Minister of Petroleum Osama Kamel stated that Eni Italy's movements in the oil and gas sector carry positive indicators and reflect its major preparations to invest around $8.5 billion to drill 230 exploratory and development wells in Egypt. He explained that these moves come as part of the company's efforts to continue searching for new natural gas fields, following its successful discovery of the Zohr field, the largest gas field in the Eastern Mediterranean. Kamel emphasized that Eni's current actions confirm the ongoing strategic cooperation between Eni and Egypt, and come after a period of challenges and significant preparations. They demonstrate the company's commitment to enhancing natural gas production and increasing Egypt's reserves, with an expected transition period from exploration to production ranging between 5 and 7 years.
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