Rosneft Buys 30% Share in Zohr Gas Field for $1.13 Billion
October 09 2017 - 4:07AM
Dow Jones News
By Ian Walker
Rosneft Oil Co. (ROSN.MZ) said Monday that it has bought a 30%
share in the Zohr gas field in the Mediterranean Sea from Italian
company Eni S.p.A. (E) for $1.13 billion.
The oil company, which is majority owned by the Russian
Government, said it has also refunded its share in past project
costs to Eni, but didn't say how much this was.
Rosneft said the deal will enable it to share significant
experience in offshore field development, using existing
competencies in offshore production.
The Zohr gas field was discovered by Eni at the shelf of Egypt
in 2015.
The 231-square kilometer field has reserves of more than 850
billion cubic meters.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
October 09, 2017 03:52 ET (07:52 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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