Eni sells to Mubadala Petroleum a 10% stake in Shorouk concession

CAIRO - 11 March 2018: Eni has agreed to sell to Mubadala Petroleum a 10 percent stake in the Shorouk concession, offshore Egypt, where Zohr's super-giant gas field is located.

Eni through its subsidiary IEOC, currently holds a 60 percent stake, while the other partners are Rosneft with 30 percent and BP with 10 percent.

The agreed consideration is $934 million. The completion of the transaction is subject to the fulfillment of certain standard conditions, including all necessary authorizations from Egypt’s authorities.