{"id":554240,"date":"2021-12-27T03:59:32","date_gmt":"2021-12-27T03:59:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/eni-commits-usd-1-bn-to-oil-exploration-in-suez-gulf-nile-delta\/"},"modified":"2021-12-27T03:59:32","modified_gmt":"2021-12-27T03:59:32","slug":"eni-commits-usd-1-bn-to-oil-exploration-in-suez-gulf-nile-delta","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/eni-commits-usd-1-bn-to-oil-exploration-in-suez-gulf-nile-delta\/","title":{"rendered":"Eni commits USD 1 bn to oil exploration in Suez Gulf + Nile Delta"},"content":{"rendered":"

<\/a> Eni to invest at least USD 1 bn on oil production in Suez Gulf, Nile Delta: <\/strong>Italian energy firm Eni has signed an agreement with the state-owned Egyptian General Petroleum Corporation (EGPC), committing Eni to spending a minimum USD 1 bn on exploration and extraction in the Gulf of Suez and Nile Delta regions, according to an Oil Ministry statement<\/a>. The statement did not specify the timeframe in which the investments are expected to be made.<\/p>\n

Eni also committed an extra USD 20 mn to drill four wells<\/strong> in the region, according to the statement.<\/p>\n

Expect to see more (hopefully greener) agreements between the Oil Ministry and Eni: <\/strong>The two sides have lined up a number of joint initiatives<\/a> on carbon capture, utilization and storage (CCUS), to be announced during the upcoming COP27 global climate summit in Sharm El Sheikh next year. Carbon capture<\/a> is expected to be a big theme at COP27, with Oil Minister Tarek El Molla stressing its importance to the oil and gas industry and to combating climate change.<\/p>\n","protected":false},"excerpt":{"rendered":"

Eni to invest at least USD 1 bn on oil production in Suez Gulf, Nile Delta: Italian energy firm Eni has signed an agreement with the state-owned Egyptian General Petroleum Corporation (EGPC), committing Eni to spending a minimum USD 1 bn on exploration and extraction in the Gulf of Suez and Nile Delta regions, according […]<\/p>\n","protected":false},"author":1,"featured_media":554241,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[557,197,72,125,91,371],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-554240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-egyptian-general-petroleum-corporation","tag-eni","tag-enterpriseam","tag-investment-watch","tag-oil-and-gas","tag-oil-ministry","wpautop","entry"],"acf":{"mongo_id":"e23ca6f4-7f73-4872-a701-a93d211c3134","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/491.jpg","photo_position":"above","related_issue":[554232],"teaser":"","voice_url":""},"yoast_head":"\nEni commits USD 1 bn to oil exploration in Suez Gulf + Nile Delta - 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