Italian energy company Eni plans to increase its energy exploration investments in Egypt to $3.5 billion in 2017, the company’s CEO Claudio Descalzi said on Thursday after a meeting with Egyptian President Abdel-Fattah El-Sisi. Descalzi briefed the Egyptian President on the latest developments regarding the massive Zohr gas field recently discovered off the Mediterranean coast, saying production is expected to start before the end of the year, a presidency statement read. Zohr, discovered by Eni in August 2015, is the largest gas field in the Mediterranean with an estimated 850 billion cubic metres of gas.
Saudi investments in the United States will “enjoy” sovereign immunity and will not be affected by the Justice Against Sponsors of Terrorism Act (JASTA), the official Saudi news agency reported on Monday. During a press conference, Dr. Ahmed bin Abdul Karim Al-Khulaifi indicated that the national economy continued to grow positively in 2015, as it increased according to data of real GDP, by 3.5 percent, however, it was influenced by the oil market, developments in the global economy and the atmosphere in the region. A ministerial source said JASTA would contribute to the “erosion” of the principle of sovereign immunity, which has governed international relations for hundreds of years, read a statement on the state-run news agency.
Trade turnover between Azerbaijan and China increased by 56 percent in the first nine months of 2016 as compared to the same period of 2015, said Azerbaijani Economy Minister Shahin Mustafayev. He made the remarks during a meeting with Chinese businessmen in Baku, said Azerbaijan’s Economy Ministry in a message on Nov. 11. Azerbaijan is interested in further development of relations with China, noted the Minister. He added that there is a big potential between the two countries in development of relations in the spheres of energy, transportation, transit freight traffic and investment.
Prime Minister Youssef Chahed met, on Wednesday in Paris, with French Foreign Minister Jean-Marc Ayrault. In a statement to TAP, the French FM said that during the meeting they discussed the ways to provide the conditions for success of the International Conference on Investment “Tunisia 2020” scheduled for November 29 and 30. Emphasis was also placed on security co-operation between the two countries and the means and mechanisms that should be put in place to encourage the rapid return of French tourists to Tunisia. “France is actively encouraging tourists to visit Tunisia,” he said, adding that whoever believes in the Tunisian democracy should not hesitate to visit this country. Jean-Marc Ayrault also stressed that France is already very committed to Tunisia through the mobilisation of a EUR 1 billion fund over five years and contributes significantly to the doubling of European financial support to Tunisia.
Azerbaijan’s state and private companies are investing capital abroad. SOCAR, SOFAZ and other private companies invested large amount of capital in our region, including the region where Croatia is located, Azerbaijani president Ilham Aliyev said at the Azerbaijan-Croatia business forum. He also spoke about the energy policy: “Azerbaijan and Croatia signed a Memorandum of Understanding. The expansion of the Southern Gas Corridor, construction of pipeline in Adriatic Sea will allow us to enter Croatian and Balkan markets.