PM Madbouly, Eni officials discuss boosting gas production

CAIRO - 3 May 2026: Prime Minister Mostafa Madbouly met with Eni officials during a Sunday inspection of the Egyptian offshore rig "El Qaher-2" following the successful drilling of the "West Dennis 1X" exploratory well in the Mediterranean’s Temsah concession.

Madbouly said the partnership with the Italian energy giant is a model for fruitful cooperation, adding that the government aims to increase production to meet domestic needs and bolster exports.

Petroleum Minister Karim Badawi attended the meeting alongside Eni’s regional head Diego Portoghese and Egypt General Manager Francesco Gaspari.

Badawi emphasized Egypt's commitment to paying all outstanding dues to foreign petroleum and gas partners "within the short coming period." 
 

Egypt’s government debt to foreign energy companies declined from $6.1 billion in June 2024 to approximately $714 million by the end of April. Earlier in March, Badawi said coordination is underway to settle all remaining dues by June 30. 

For their part, Eni officials highlighted recent positive exploration results and discussed future plans, including the company's social contributions to Egypt’s health sector. They thanked Egypt for supporting an environment conducive to investment. 

The meeting also touched on regional energy cooperation as Egypt continues its push to become a regional energy hub.