Egypt, Eni’s Ieoc sign deal for energy transition, clean energy projects

Egypt has signed on Monday a memorandum of understanding (MoU) with Eni’s Ieoc Production B.V. to boost bilateral cooperation in energy transition and clean energy areas.

The agreement will see the Egyptian Mineral Resource Authority (EMRA) and Ieoc coordinate in the identification and uncovering of potential opportunities in minerals, such as lithium, nickel, cobalt, manganese, graphite, that are used in the energy transition process and clean energy projects in Ieoc’s concession areas in Egypt.

EMRA’s chairman Khaled El Sheshtawy has signed the memo with Paolo Bini, general director for exploration at Ieoc Production, in the presence of Mattia Campanati, new head of Ieoc Production in Egypt, on the sidelines of Egypt Mining Forum.

In line with its net-zero strategy by 2050, Eni is engaged in a series of initiatives aimed at decarbonising the Egyptian energy sector, including the development of CCS plants, renewable energy plants, agrofeedstock for biorefining and others.

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