Home / Sustainability / Energy / BP and Mubadala buying into Egytian gas fields

BP and Mubadala buying into Egytian gas fields

Egypt’s petroleum minister on Sunday signed an agreement with BP and UAE-based Mubadala Investment Co giving them stakes in the Nour gas field off the northern coast of Sinai.

BP will buy 25 percent and Abu Dhabi state fund Mubadala 20 percent of Italian energy company Eni’s stake, the petroleum ministry said in a statement.

Eni had held an 85 percent stake and Egypt-based Tharwa Petroleum Co holds 15 percent of Nour.

Source: Reuters

Total Page Visits: 78 - Today Page Visits: 1

Check Also

US uses human rights as excuse for new Iran sanctions

The United States on Thursday blacklisted several Iranian officials and entities over alleged gross violations …

Leave a Reply

Your email address will not be published. Required fields are marked *