Italian energy company Eni signs framework agreement that envisions large-scale investments in country’s oil and gas reserves. Photo courtesy: Eni Italian energy company Eni said it signed a framework agreement to develop Egyptian oil and gas reserves that calls for as much as $5 billion in investments. Eni Chief Executive Officer, Claudio Descalzi, met over the weekend with Egyptian Petroleum Minister Sherif Ismail on the sidelines of an economic summit in Sharm el-Sheik. The framework agreement calls for as much as $5 billion in total investments. “The investments, which will be utilized through the realization of projects to be implemented in the next 4 years, are directed to the development of 200 million barrels of oil and 1.3 trillion cubic feet of natural gas,” the Italian company said in a Saturday statement. “These investments will also contribute effectively to the increasing energy needs of local demand.” Political and economic […]