DUBAI (Reuters) – Abu Dhabi state fund Mubadala Investment Company’s oil business has agreed to buy a 20 percent participating interest in Egypt’s Nour North Sinai Offshore Area concession from Italy’s Eni, it said on Monday.
Thank you for reading this post, don't forget to subscribe!Eni, which operates the concession through a subsidiary, holds an 85 percent interest in partnership with Tharwa Petroleum Company, which holds a 15 percent interest.
Mubadala Petroleum said the deal was subject to conditions, including approval from Egyptian government authorities.
Reporting by Alexander Cornwell