Egypt had signed an energy exploration deal with Italian Eni worth 2 billion dollars, Egypt oil ministry official said on Monday.
The agreement was signed between the Egyptian General Petroleum Corporation's (EGPC) executive chairman and the Italian Company Eni's head of exploration.
According to the agreement, Eni and partners will pump investments of about 2 billion dollars.
Deal covers the implementation of exploration and development activities at Belayim concession areas at Sinai, Abu Madi at Nile Delta, Ashrafi at Gulf of Suez, North Port Said in the Mediterranean and Baltim at offshore Nile Delta.
Italian giant has operations in 79 countries, and is currently Italy's largest industrial company with a market capitalization of 90 billion dollars and biggest foreign oil major in Africa. Also has been present in Egypt since 1954 and produces around 210,000 barrels of oil equivalent per day.
By Gokhan Yildiz
Anadolu Agency
gokhan.yildiz@aa.com.tr