Rosneft completes Zohr acquisition
Egypt 
MOSCOW, October 9, 2017 – Rosneft has finalised the purchase of a 30% stake in Eni’s Shourouk concession, which contains the massive Zohr gasfield offshore Egypt, the Russian oil giant announced on Monday.
“Having closed the deal to acquire a stake in the concession agreement for the development of Zohr gas field, Rosneft has entered the world class project,” said in a statement Rosneft CEO Igor Sechin. “It opens up the opportunities for the Company to reinforce its positions in the promising and strategic region, broadens potential of our trading division and enhances our mutually beneficial cooperation with Egypt.”
The sale, valued at USD 1.125 billion, was agreed in December 2016. It leaves Eni with a 60% operated stake in the concession, while BP’s interest remains unchanged at 10%.
Read our latest insights on:
More content from Egypt
Latest news and features
