Eni is stepping up investment in Egypt, planning to drill 230 new oil and gas wells as the Italian energy company seeks to raise production and make greater use of existing infrastructure.

The programme includes 30 exploration wells and 200 development wells, adding to Eni’s $8.5 billion investment in Egypt to date. The company’s plans come as Cairo works to increase gas supplies and strengthen its position as a regional energy hub.

Eni CEO Claudio Descalzi discussed the plans Tuesday with Egyptian President Abdel Fattah al-Sisi in El Alamein. Prime Minister Mostafa Madbouly and Petroleum and Mineral Resources Minister Karim Badawi also attended the meeting.

The talks focused on new exploration and development work, as well as projects aimed at bringing gas into production faster. Eni said its activities since 2025 have helped lift production from offshore Sinai fields by 50%.

Eni targets faster production

The drilling programme will cover areas from the Mediterranean and Nile Delta to Sinai and the Western Desert.

Eni plans to use existing plants and pipelines where possible, allowing some discoveries and field extensions to move into production without waiting for entirely new infrastructure.

One major project is Denise West, a gas discovery made in April in the Temsah concession. Eni estimates about 2 trillion cubic feet of gas and 130 million barrels of condensate are in place.

The company is working with BP and the Egyptian General Petroleum Corp. on a final investment decision, with first gas targeted in less than two years.

Zohr keeps Egypt at the center

Eni’s Zohr field remains a key part of its Egypt business. The field, the largest gas discovery in the eastern Mediterranean, has also provided infrastructure that can support other regional gas projects.

That infrastructure is now being used in Eni’s Cronos project offshore Cyprus. Eni reached a final investment decision for Cronos in July, with plans to send Cypriot gas to Egypt for processing at Zohr before it is liquefied at Damietta and exported, mainly to European markets.

Eni, founded in 1953, is an Italian energy company operating across oil and gas, refining, power and other energy businesses.

It has operated in Egypt since 1954 through its subsidiary IEOC and produced about 242,000 barrels of oil equivalent per day in 2025 based on its equity share.

For Egypt, the investment could help support domestic gas production while making better use of infrastructure already in place.

The partnership also gives Italy a major energy presence in the eastern Mediterranean, while Eni plans to expand its social and health projects in Egypt under a memorandum signed in March 2026.