Eni signs agreement worth 5 bln dollars in Egypt

An agreement worth five billion dollars for the development of 200 million barrels of oil and some 37 billion cubic meters of gas is the imposing INVESTMENT at the center of an agreement signed by Italian group Eni with the Egyptian oil minister, defined by Premier Matteo Renzi as ''the most significant'' among those wrapped up at the economic summit of Sharm El sheikh. The forum, entirely dedicated to economics, gathered 1,800 delegations from over 70 countries including, as explained by the deputy minister for economic development Carlo Calenda, ''all the largest Italian companies that are working on agreements worth some 2.5 billion euros'', Eni excluded.

Calenda wrote in a Tweet, re-launched by the Italian premier: ''In Sharm wrapped up agreements Eni and Ansaldo Energia, new agreements on railways and shipping: Italy grows in Egypt with Matteo Renzi''. ''The working process we followed was key: we built a package, from Sace to the Cassa Depositi e Prestiti bank to work not only on guarantees but also on funding because today commissions in Egypt are taken if assisted by funding and guarantees''. The ''working team'' thus created, the deputy minister said, ''is working and can become a role model for other markets''. The agreement Eni-Egypt certainly worked. ''It was an important result that vies to enhance gas reserves'', said CEO Claudio Scalzi, with INVESTMENTS which, according to the Italian company, will contribute to the growing need of local energy demand.