The Chief Executive Officer of the Italian company Eni, Claudio Descalzi, announced a large-scale investment plan encompassing Libya with an investment of eight billion euros, in addition to similar investments to be injected into both Algeria and Egypt over the next four years.
The company has already commenced drilling operations in its first exploratory well, designated “A1–96/3,” in Ghadames region, as part of a joint project involving Eni, British Petroleum, and the Libyan Investment Authority, and under the direct supervision of the local Mellitah Oil & Gas Company. Furthermore, Eni is preparing to resume natural gas pumping operations from the Thahr field with a capacity estimated at 220 million cubic feet per day, and the company is currently engaged in negotiations and discussions to establish a new liquefied natural gas (LNG) facility in Damietta region in Egypt.
The Italian company is also collaborating closely with the Algerian company Sonatrach within the framework of international partnerships aimed at increasing the volume of natural gas production in the region, with Algeria aiming to reach an annual production of approximately 160 billion cubic meters by the year 2060.
Concerned officials have affirmed that these significant investments come within the context of strengthening cooperation in the vital energy sector between the countries of the region and their international partners, with a particular focus on developing the necessary infrastructure and increasing production rates to meet the growing demand for energy.
