Russia’s Rosneft buys 30% of gas field off Egypt
Russia’s Rosneft said it has completed a deal to acquire a 30 percent stake in the Zohr field, the largest gas field in the Mediterranean Sea, from Italy’s Eni for $1.125 billion.
Eni will retain a 60 percent stake in the field, located off the coast of Egypt.
BP holds the remaining ten percent interest.
“Participation in the development of a unique production asset will strengthen positions of Rosneft in the strategic markets of Europe and Middle East,” Rosneft said.
Source: Stock market wire
