Eni Completes Sale of 10% Shorouk Concession Interest

Eni SpA has completed the sale of a 10 percent interest in the Shorouk concession offshore Egypt to BP plc.

The deal for the sale of the concession, which contains the super-giant Zohr gas field, was first agreed in November 2016. Eni, through its subsidiary IEOC, now holds a 90 percent stake in the license, while Rosneft has agreed to acquire a 30 percent stake, subject to Egyptian governmental approval.

Zohr was discovered by Eni in August 2015 and, with a total potential of 850 billion cubic meters of gas in place, is the largest natural gas field ever discovered in the Mediterranean. 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  ExxonMobil Starts Fuels Production at ... (Sep 21)
 -  How to Become a Safety Engineer (Sep 18)
 -  How to Become a Geologist (Sep 15)
 -  Oil, Gas Industry Leadership Group to ... (Sep 14)
 -  CB&I Wins China PDH Unit Contract (Sep 11)


Most Popular Articles

From the Career Center
Jobs that may interest you
Division Order Analyst - DJ Land Administration
Expertise: Business Analyst|Commercial Management|Landman
Location: Denver, CO
 
Staff Land Analyst Job
Expertise: Lease Analyst
Location: Houston, TX
 
Channel Development Manager Job
Expertise: Business Development|Sales
Location: Minneapolis, MN
 
search for more jobs

Brent Crude Oil : $56.86/BBL 0.76%
Light Crude Oil : $50.66/BBL 0.21%
Natural Gas : $2.959/MMBtu 0.30%
Updated in last 24 hours