Petroleum Africa
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Wednesday, February 15, 2017
ENI, BP, and the Egyptian Minister of Petroleum, Tarek El Molla, signed the deed completing the sale of a stake in ENI’s Shorouk concession to BP. The signing of the deed gives BP a 10% stake in the Shorouk concession, which contains the massive Zohr natural gas field.
The CEOs of ENI and BP, Claudio Descalzi and Bob Dudley, also signed the deed.
ENI is also selling a share in the concession to Russian firm Rosneft, who has agreed to acquire a 30% stake. Rosneft’s participation is still awaiting approval from the Egyptian government.
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