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  • BP to buy 25% interest in Egypt’s Nour North Sinai concession
    édité le 11/12/2018 - Plus de news de "BP" - Voir la fiche entreprise de "BP"


BP to buy 25% interest in Egypt’s Nour North Sinai concession
BP announced that it has agreed to acquire from Eni a 25% participating interest in the Nour North Sinai concession area offshore Egypt.

The concession is located in the East Nile Delta basin, approximately 50 kilometres offshore in the Eastern Mediterranean, in water depths ranging from 50 to 400 metres and covering a total area of 739 square kilometres. Eni, the operator, is currently carrying out drilling of the first exploration well in the concession.

Eni has also agreed the sale of a stake in the concession to Mubadala Petroleum. When the transactions are complete, Eni will remain the operator with a 40% stake in the concession, BP will hold a 25% interest, Mubadala Petroleum 20% and Tharwa Petroleum Company, 15%.

BP’s purchase, which is subject to receiving approvals from the relevant Egyptian Government authorities, is expected to be completed by the end of this month.

BP has a long and successful track record in Egypt stretching back over 55 years. BP’s business in Egypt is primarily in exploration and production of oil and gas. With its partners, BP currently produces almost 10% of Egypt’s oil production and close to 60% of Egypt’s gas production. BP has invested approximately $30bn in Egypt to date, making it one of the largest foreign investors in the country. BP is working to meet Egypt’s domestic gas market growth by actively exploring in the Nile Delta and investing to add production from existing discoveries.

About BP

BP (NYSE:BP) is one of the world's largest oil and gas companies, serving millions of customers every day in more than 80 countries, and employing nearly 85,000 people. BP's business segments are oil and gas exploration & production, and refining & marketing. In alternative energies, BP has low- and no-carbon wind and biofuels businesses. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies.

About ENI

Eni is an integrated energy company employing more than 34.000 people in 69 countries in the world. Eni engages in oil and natural gas exploration, field development and production, as well as in the supply, trading and shipping of natural gas, LNG, electricity and fuels. Through refineries and chemical plants, Eni processes crude oil and other oil-based feedstock to produce fuels, lubricants and chemical products that are supplied to wholesalers or through retail networks or distributors.


Origine : Communiqué BP

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