A deeply rooted business: there are over 130 active Italian companies in the North African country, from Intesa San Paolo to Italcementi, from Pirelli to Ansaldo, which make Rome the top Egyptian trade partner in Europe.
The lion’s share, however, is definitely the energy business that Qabil did not include in his latest report. Eni and Edison are on the pedestal, the two Italian giants that have invested billions in Cairo for oil and gas basin fields.
Eni’s six-legged dog is in the country since 1954. During these decades, it has rooted its presence and has become the first oil producer in Egypt, with a production of 230 thousand barrels per day over an area of 23 thousand square kilometers. But it was the discovery of the immense Zohr undersea basin that changed the entire energy map of the Mediterranean Sea.
This basin has a potential of 850 billion cubic meters of gas, of which the extraction could begin in October, according to sources quoted by the agency Agenzia Nova, just after Eni’s acquisition of Early Production Facility of the US company Schlumberger and after the completion of the marine platform for the “super” oilfield in early June, four months ahead of schedule.
A similar story, but on a smaller scale, for Edison, responsible for 100 percent of the Abu Qir oilfield in the Nile Delta, 60 percent of West Waidi El Rayan and 20 percent of Rosetta. So, the news printed on Messaggero a few days ago, did not raise any eyebrows: in Viterbo, among the audience of the Caffeina festival, there were two “special” spectators, Italian Ambassador Giampaolo Cantini and Egyptian Ambassador Ayman Thawat.
None of the two have officially entered their respective embassies in Cairo and Rome, since political relations have not been restored. And every day, it seems like smoke and mirrors more and more.