Italian energy giant Eni has committed to increase its Egypt by $8 billion over the coming five years, targeting projects in the Zohr, Narges and Nour fields.
This was disclosed Tuesday by Minister of Petroleum and Mineral Resources Karim Badawi while speaking at an interview on DMC TV Channel.
Badawi stated that more than $1.2 billion in foreign direct investments will be directed to over 100 exploration wells between October and December 2025.
About 14 of these exploration wells are expected to be in the Mediterranean region.
The Minister revealed that the Zohr field operated by Eni currently contributes more than 23% of Egypt’s total gas production, adding that the Mediterranean region would witness even more stability in production and further development and exploration plans.
“We want the partners to increase their investments in the local production and to increase their investments in the discovery processes to be able to add to reserves and production,” the minister said during the interview.
Eni’s gas operations in Egypt
Eni has been active in Egypt since 1954, operating through its subsidiary IEOC Production BV.
It is currently Egypt’s largest hydrocarbon producer, contributing around 40% of the country’s natural gas output.
Some of its key assets include:
- Zohr field
- Nooros and Baltim South West
- Meleiha
- Temsah concession
Zohr is the largest natural gas field in Egypt and the Mediterranean.
Discovered in 2015, the field reached a peak production of 2.7 billion cubic feet per day (bcf/d) in 2019 before output declined to 1.9 Bcf/d in 2024.
Badawi explained that this production decline was partly caused by international companies which reduced their operations in Egypt due to delayed arrears.
Meanwhile, Egypt recently added three new wells in the Zohr gas field as part of efforts to boost production in the current financial year, the petroleum ministry.
Egypt signals gas reforms
Egypt is turning a new page in its energy story. Faced with declining production and waning investor confidence, the Ministry of Petroleum has rolled out a series of reforms aimed at restoring trust and reigniting foreign investment.
“We worked closely with our partners to ensure timely payments, improve contract terms, and promote reinvestment in strategic zones like the Western Desert and the Mediterranean,” said Badawi.
In a major step forward, Egypt paid over $1 billion in May 2025 to settle part of its outstanding arrears to foreign oil companies.
An additional $500 million was disbursed in September, with another $620 million scheduled before year-end.
These payments have helped rebuild investor confidence, with production rates beginning to climb again by mid-2025.
Adding momentum to its energy ambitions, Egypt signed a $35 billion gas supply agreement in September with the operators of Israel’s Leviathan field.
The deal covers the transport of up to 130 billion cubic metres (bcm) of gas through 2040.
