MILAN (Reuters) - Italy's biggest oil and gas Eni will invest $1.5 billion over five years in hydrocarbon exploration and production in Egypt as part of a series of new cooperation activities there, Eni said on Tuesday. The new initiatives include the extension of the licence for the giant field Belayim in the Gulf of Suez which Eni operates with a 100 percent stake for a further 10 years through the end of 2030, Eni said in a statement. Eni and Egypt's Ministry of Petroleum will also jointly evaluate oil and gas development initiatives in third-party countries, both in the upstream and in the downstream sectors, it said. | 
