Eni sells Mubadala 20% of block off Egypt

Nov. 12, 2018

Eni SPA has agreed to sell a 20% participating interest in the Nour North Sinai Offshore Concession in Egypt to Mubadala Petroleum, Abu Dhabi. Eni’s interest before the transaction is 85%. State-owned Tharwa Petroleum Co. holds the other 15% of the contractor’s share, where Eni and Tharwa are collectively the contractor in participation with Egyptian Natural Gas Holding Co.

OGJ editors

Eni SPA has agreed to sell a 20% participating interest in the Nour North Sinai Offshore Concession in Egypt to Mubadala Petroleum, Abu Dhabi.

Eni’s interest before the transaction is 85%. State-owned Tharwa Petroleum Co. holds the other 15% of the contractor’s share, where Eni and Tharwa are collectively the contractor in participation with Egyptian Natural Gas Holding Co.

Eni and Tharwa are drilling an exploration well as part of the first exploration period of the 739-sq-km East Nile basin concession, which is 50 km offshore in 50-400 m of water.