Gulf Oil and Gas accountACCOUNT

Rosneft Closes the Deal to Acquire a 30% Stake in Zohr Gas Field

Source: www.gulfoilandgas.com 10/9/2017, Location: Africa

Share |
Rosneft closed the deal to acquire a 30% stake in the concessions agreement for the development of Zohr field, the largest gas field in the Mediterranean Sea, from Italian company Eni S.p.A.

The cost of Rosneft stake acquisition is USD 1.125 bln. The Company also refunded its share in past project costs to Eni.

The Company becomes a participant of the project to develop the largest deepwater gas field offshore Egypt jointly with other world majors and strategic partners of Rosneft – Eni (60% stake) and BP (10% stake).

The deal will enable the Company to share significant experience in offshore field development, using existing competencies in offshore production. Participation in the development of a unique production asset will strengthen positions of Rosneft in the strategic markets of Europe and Middle East.

Commenting on the deal, Rosneft Chief Executive Officer Igor Sechin said, «Having closed the deal to acquire a stake in the concession agreement for the development of Zohr gas field, Rosneft has entered the world class project. It opens up the opportunities for the Company to reinforce its positions in the promising and strategic region, broadens potential of our trading division and enhances our mutually beneficial cooperation with Egypt». br>
For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

Acquisitions and Divestitures News in Egypt >>

Australia >>  12/13/2017 - Cue Energy Resources Ltd (CUE) is pleased to advise that through its 100% owned subsidiary, Cue Exploration Pty Ltd, it has agreed to extend the 42.5...
Israel >>  12/13/2017 - Energean Oil & Gas is pleased to announce that Energean Israel has been awarded five offshore exploration licences within the Israeli Exclusive Econom...

Russia >>  12/12/2017 - NOVATEK has concluded an agreement to acquire Chernichnoyefrom oil company 'Mangazeya' JSC. The transaction is expected to close in early 2018. ...
United Kingdom >>  12/11/2017 - Premier has entered into a sale and purchase agreement (SPA) to sell its entire equity interest in the Esmond Transportation System (ETS) pipeline to ...

United States >>  12/11/2017 - Oasis Petroleum Inc. has entered into a definitive purchase and sale agreement with Forge Energy to acquire 20,300 net acres in the Delaware Basin (th...
United States >>  12/8/2017 - CMA CGM Group, a world leader in maritime transport, announces that it has completed the acquisition of MERCOSUL Line. MERCOSUL Line is one of the lea...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Egypt Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

Oil & Gas Projects in Egypt >>

More News

 

Oil & Gas Companies in Egypt >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.