Egypt discusses new investments with energy giant Eni

Italian energy giant’s plans to search for oil in the Gulf of Suez and Nile delta areas under the terms of an agreement signed last December. (File/AFP)
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Updated 05 March 2022
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Egypt discusses new investments with energy giant Eni

CAIRO: Egypt’s Minister of Petroleum and Mineral Resources, Tarek El-Molla, has met a delegation from Eni to discuss the Italian energy giant’s plans to search for oil in the Gulf of Suez and Nile delta areas under the terms of an agreement signed last December.

The minister also discussed Eni’s activities in Egypt, as well as future projects and investment programs, as part of an initiative to increase production levels at existing fields.

Discussions also focused on plans for the development of a number of fields and a production timetable, as well as the position of new concession areas won by Eni in the first digital global bid put forward through the Egypt Exploration and Production Gateway.

El-Molla said that Eni is the largest oil and gas producer in Egypt, and is at the forefront of Italian companies investing in the Egyptian economy.

Egypt’s petroleum sector is working with foreign partners, including Eni, on initiatives to reduce emissions at petroleum worksites, and cooperate in the areas of clean energy and hydrogen, he added.

Guido Brusco, chief operating officer of Eni’s natural resources sector, said that Egypt is an important destination for the company’s investments in North Africa and the Mediterranean.

Further success stories in coming years will complement the remarkable feats already achieved by the petroleum sector and Eni, he added.


‘Future cities will be built for visitors, not just residents,’ Saudi tourism minister tells Arab News

Updated 10 November 2025
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‘Future cities will be built for visitors, not just residents,’ Saudi tourism minister tells Arab News

RIYADH: Saudi Arabia is positioning itself at the forefront of the global travel evolution by designing destinations that will target the tourists of the future, the Kingdom’s tourism minister has said.

Ahmed Al-Khateeb added that sustainability would serve as the guiding principle behind Saudi Arabia’s role in tomorrow’s global travel landscape.

Travelers’ habits and the tourism industry’s revenue sources have shifted dramatically in recent years, he told Arab News in an interview.

“People used to travel in groups. Today, they are traveling in smaller groups. Hotels used to make most of their revenues from rooms — now, they are making more from lounges and restaurants.”

And younger generations, empowered by technology, are also redefining how travel is planned and experienced, Al-Khateeb added. “They are driving their own itineraries on the go, which puts pressure on traditional travel companies that once organized large group trips. We are witnessing big shifts in the global travel market.”

Among the world’s fastest-growing tourism markets, China and India are reshaping international travel flows. “China has become the most important source market for outbound travelers, while India is expected to double its number of travelers in the coming years,” the minister said. “This opens a major opportunity for the Middle East — and Saudi Arabia in particular — to emerge as a top destination for international tourists.”

Since 2019, Saudi Arabia has recorded the fastest tourism growth among all G20 nations, said Al-Khateeb. “We have a very strong domestic market and a very strong religious market. Now, we have opened our doors for leisure, business and holiday travelers — whether they seek the Red Sea coast, the southern mountains, our major cities or our beautiful islands.”

Yet the Kingdom’s long-term vision for tourism extends far beyond the present, with destinations being built to serve both visitors and residents sustainably, he added.

“In the 1950s and 1960s, cities were built for residents,” Al-Khateeb said. “Today, in places like Greece, visitors outnumber residents three to one. The cities of the future must be designed for visitors as well — and that’s what we are doing in Saudi Arabia.”

Sustainability has become a non-negotiable element of all tourism development in the Kingdom, he added. “In the last two decades, sustainability has become extremely important. As we build new destinations like the Red Sea, we are fully aligned with sustainability regulations. Whatever we build today is environmentally friendly, ensuring not only environmental, but also social and economic sustainability.”

This principle lies at the heart of Vision 2030’s tourism transformation: “Sustainability is at our forefront whenever we build or operate any new destination,” he added.