The minister has highlighted that the start of Eni’s new program reflects the confidence the firm, which is described as the largest investor in the Egyptian energy sector, has in the country’s hydrocarbon sector and its commitment to intensify research, exploration and production activities, which will enhance crude oil production capacities to reduce the import bill.
The Trident 16 rig is currently operating in the Gulf of Suez located within Sinai fields, where the well 133 is targeting to reach a depth of more than 2,600 meters.
This well represents the first drilling activity under Eni’s new investment work program in Egypt, covering the Gulf of Suez, Sinai, and the Nile Delta, following the agreement signed in mid-November between the Italian player and the EGPC to pump new investments.
This follows the host government agreement inked in February 2025 between Egypt and the Eni-TotalEnergies consortium for the development of hydrocarbons in Block 6 of the Exclusive Economic Zone (EEZ) of the Republic of Cyprus.
Egypt and Cyprus also penned multiple commercial agreements for a natural gas project that aims to enable Cypriot gas to reach Egypt’s infrastructure.