Eni has entered into several agreements with the government of Egypt as regarding its oil and gas concession in the country.

The agreements includes, three amendment contracts for Eni’s Sinai 12 and Abu Madi, North Port Said and Batim (in partnership with BP) concessions in Egypt. It also signed a new concession agreement for Ashrafi (in partnership with ENGIE).

According to the company, the agreements are to attract more than $2 billion worth of investments for projects to be executed in the next 4 years as well as meeting the country’s rising local demand. It added that the agreements also represents the successful conclusion of the first set of agreements, defined in the heads of agreements signed in March 2015.

Three other agreements contained in the heads of agreement have been finalised and the approval process is to be concluded before the end of 2015. Some of the activities projected, are in their execution phase while an additional well in the Baltim concession is currently in production.

Operating through IEOC, its affiliated company Eni has been in Egypt since 1954. It is the principal producer in the country with an output of about 180 000 boe/d, Offshore energy today reports.