Petronas Front Runner for Edison's Stake in WDDM Concession

Petronas is seen as the front runner in the bid for Edison's 50% stake in the Egyptian West Delta Deep Marine concession offshore Egypt. The other 50% stake is held by BG Group. Edison is selling some of its assets in an effort to reduce debt. Edison has received seven bids including one from ENI. Edison has declined to make any comments until the end of May when the bidding has been completed. The winner could be announced in the short term, possibly before a deadline set by Edison Chairman Umberto Quadrino.