Rosneft Eyes Shorouk Stake

Tuesday, December 6, 2016

Russian firm Rosneft is considering picking up a stake in ENI’s Shorouk concession offshore Egypt. The firm said plans to discuss the purchase of up to a 35% stake in the asset are in the works.

ENI’s Shorouk concession contains the Zohr gas field, which contains a potential 850 Bcm of gas.

ENI is partnered with BP on the concession, with BP gaining its stake in the concession just recently. The UK-based firm purchased a 10% stake in the concession from ENI in November for $375 million, plus a portion of past expenditures.

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