Egyptian conservators give King Tut’s treasures new glow
Eni sells 30 pct stake in Egypt’s Zohr gas field to Rosneft
3:17 CAT | 12 Dec 2016
Reuters / The logo of Italian energy company Eni is seen at an Agip gas station in Lugano, Switzerland June 3, 2016.
Italian oil and gas group Eni agreed to sell a 30 percent stake in Egypt’s offshore Shorouk concession to Russia’s Rosneft for $1.125 billion, cutting its stake in the Zohr giant gas field to 60 percent.
Eni said Rosneft would reimburse pro-rata investments already carried out by the Italian group totalling around $450 million at present.
Rosneft has also an option to buy a further 5 percent stake at the same conditions. Eni discovered the Zohr field – the Mediterranean’s biggest ever gas field – in the Shorouk concession in August 2015.
Source: Reuters
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