Exploration & Production

Eni in talks for Zohr stake sale

Eni is in talks with Lukoil, ExxonMobil, Total and BP for the sale of a stake in the Zohr gas field in Egypt, according to a Reuters report.
By Staff reporter 15 August 2016 0 21516

Eni is in talks with Lukoil, ExxonMobil, Total and BP for the sale of a stake in the Zohr gas field in Egypt, according to a Reuters report.

Eni wants to sell at least 20% ownership of the project as part of its plan to raise €2 billion ($2.2 billion) through asset sales.

Any deal would have to wait until next year when final appraisals are complete and production starts, said Eni Chief Executive Claudio Descalzi.