Exploration & Production

Eni sells 10% Shorouk stake to Mubadala

Eni has agreed to sell a 10% stake in the Shorouk concession offshore Egypt to Abu Dhabi’s Mubadala Petroleum for $934 million.
By Staff reporter 12 March 2018 0 29956

Eni has agreed to sell a 10% stake in the Shorouk concession offshore Egypt to Abu Dhabi’s Mubadala Petroleum for $934 million.

The sale would leave Eni with a 50% share in the concession. Rosneft will continue to hold 30% in Shorouk while BP has the remaining 10%.

In a separate transaction, Eni has acquired stakes in several oil and gas fields offshore Abu Dhabi. It has agreed to buy a 5% stake in the Lower Zakum offshore oilfield and a 10% stake in the offshore Umm...