Rosneft buys $1.1 Bn Zohr stake

摘要

Italy's Eni has agreed to sell to Russia's Rosneft a 30% stake in the Shourouk Concession, which holds the huge Zohr gas field, offshore Egypt for US $1,125 Bn. Eni, through its subsidiary IEOC, currently holds a 90% stake in the block following the recent farm-out of 10% to BP, for which completion is ongoing. "The agreed conditions include a consideration of $ 1.125 Bn and the pro quota reimbursement of past expenditures, which amount so far at approximately $450m. In addition, Rosneft has an option to buy a further 5% stake under the same terms," Eni said.