Eni Granted New Exploration License Offshore Egypt
August 14 2018 - 4:20AM
Dow Jones News
By Anthony Shevlin
Eni SpA (ENI.MI) said Tuesday it has been granted a new
exploration license offshore Egypt.
The new concession agreement--aimed at governing an offshore
exploration license in the East Nile Delta Basin of the
Mediterranean Sea--received approval by Egyptian authorities, Eni
said.
The Italian oil major said it plans to proceed with the drilling
of an exploration well in the second half and that the exploration
license is operated through its subsidiary IEOC.
Eni holds an 85% stake in the concession and Tharwa Petroleum
Company holds a 15% stake, it said.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
August 14, 2018 04:05 ET (08:05 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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