3 May 2024
BP to buy 10% stake in giant offshore Zohr field
Publication date: 28 November 2016
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BP has agreed to buy a 10% stake in the Shorouk concession in Zohr field offshore Egypt from Italian major Eni, pending regulatory approval.
BP has an option to increase its stake in the licence by a further 5% by the end of next year, would reduce Eni’s stake to 85%. The counterparties hope to close the USD 375 million deal by late 2017.