BP, Mubadala join Eni in offshore Nour concession

Eni has transferred 45% of its interest in Egypt’s Nour North Sinai Offshore concession to Mubadala Petroleum (20%) and BP (25%).

Offshore staff

SAN DONATO MILANESE, Italy – Eni has transferred 45% of its interest in Egypt’s Nour North Sinai Offshore concession to Mubadala Petroleum (20%) and BP (25%).

Egypt’s government approved the transactions during a ceremony last weekend in Sharm El Sheik. Eni signed farm-out agreements with the two companies earlier.

The company said its deal with BP is part of a wider business alignment internationally.

Nour is in the prolific East Nile Delta basin of the eastern Mediterranean Sea, around 50 km (31 mi) offshore, and covers 739 sq km (285 sq mi) in water depths ranging from 50-400 m (164-1,312 ft).

Eni is presently drilling an exploration well on the concession.

12/13/2018

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