Italian oil company Eni said on Sunday it would sell a 10 percent stake in the Shorouk concession in the Zhor field in Egypt, to Mubadala Petroleum for $934 million.
Eni currently holds through its subsidiary IEOC a 60 percent stake in the block, the biggest ever gas discovery in the Mediterranean, with 400 million standard cubic feet per day. Rosneft holds a 30 percent share and BP 10 percent.
“(The deal) represents a further signal about the strength and quality of this world-class asset,” said ENI Chief Executive Claudio Descalzi. Read More…
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