Oil Egypt accountACCOUNT King Tut

Rosneft Closes the Deal to Acquire a 30% Stake in Zohr Gas Field

Source: www.gulfoilandgas.com 10/9/2017, Location: Egypt

Share |
Rosneft closed the deal to acquire a 30% stake in the concessions agreement for the development of Zohr field, the largest gas field in the Mediterranean Sea, from Italian company Eni S.p.A.

The cost of Rosneft stake acquisition is USD 1.125 bln. The Company also refunded its share in past project costs to Eni.

The Company becomes a participant of the project to develop the largest deepwater gas field offshore Egypt jointly with other world majors and strategic partners of Rosneft – Eni (60% stake) and BP (10% stake).

The deal will enable the Company to share significant experience in offshore field development, using existing competencies in offshore production. Participation in the development of a unique production asset will strengthen positions of Rosneft in the strategic markets of Europe and Middle East.

Commenting on the deal, Rosneft Chief Executive Officer Igor Sechin said, «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. 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». br>
For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

Egypt >>  3/14/2019 - Eni announces a new gas discovery under evaluation in the Nour exploration prospect located in the Nour North Sinai Concession, in the Eastern Egyptia...
Egypt >>  3/12/2019 - The Ministry of Petroleum and Mineral Resources of Egypt (M.O.P) invite international qualified and interested companies having the technical and fina...

Egypt >>  3/8/2019 - ADES International Holding PLC (ADES), a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), is pl...
Egypt >>  3/7/2019 - DEA has extended its concessions for the Ras Budran and Zeit Bay oil fields in the Gulf of Suez. At a formal ceremony event, witnessed by H.E. Eng. Ta...

Egypt >>  3/6/2019 - Petroleum Minister Tareq el Molla had talks with First Vice President of the European Bank for Reconstruction and Development (EBRD), Jurgen Rigterink...
Egypt >>  3/5/2019 - TechnipFMC (FTI) has successfully completed the remaining conditions required to enable work to commence on the Engineering, Procurement, and Construc...

More News

Oil & Gas Projects in Egypt >>

Oil & Gas Companies in Egypt >>

Related Links

Oil Egypt E-Marketplace - Subscription Packages - Benefits

Copyright © Universal Solutions S.A.E. All rights reserved. Privacy Policy. - Career Opportunities - Feedback - Contact Us