Mubadala to buy 20% interest in Egypt’s Nour offshore concession from Eni

Abu Dhabi state fund Mubadala Investment Company’s oil business has agreed to buy a 20 percent participating interest in Egypt’s Nour North Sinai Offshore Area concession from Italy’s Eni, it said on Monday.

Eni, which operates the concession through a subsidiary, holds an 85 percent interest in partnership with Tharwa Petroleum Company, which holds a 15 percent interest.

Mubadala Petroleum said the deal was subject to conditions, including approval from Egyptian government authorities.

Source: Reuters