The contract is for an initial exploration phase of four years which includes 3D seismic acquisition and the drilling of wells.
This initiative is part of Enel’s strategy to act as a vertically integrated energy company with direct access to strategic commodities.
Enel is also continuing the cooperation across the gas value chain and in particular in the liquefied natural gas sector with the Egyptian company EGAS within the framework of a co-operation agreement signed in 2008.
Additionally, following the agreement signed yesterday by the Italian and the Egyptian governments, Enel will cooperate with the Egyptian Ministry of Energy and Electricity and with EEHC, the Egyptian national utility, in the power sector with a particular focus on energy efficiency and renewable energies.
