Eni in Egypt, UAE deals
Multinational Mubadala Petroleum will buy a stake in the Egypt concession, home to the massive Zohr gasfield, for USD 934 million. Following the closing of the deal, Eni will remain the operator of Zohr with a 50% stake in it, alongside partners Rosneft (30%), BP (10%) and Mubadala (10%).
“This represents a further signal about the strength and quality of this world class asset developed by Eni,” said Eni CEO Claudio Descalzi.
In a separate statement, the Italian super-major announced that it had agreed to acquire a 5% stake in the Lower Zakum oilfield and a 10% interest in the Umm Shaif and Nasr oil and gasfields offshore Abu Dhabi. The total consideration for the UAE deals is USD 875 million.
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