Eni Agrees to Merger of Meleiha and Meleiha Deep Concessions in Egypt
June 15 2021 - 7:09AM
Dow Jones News
By Giulia Petroni
Eni SpA said Tuesday that it has signed an agreement with the
Egyptian General Petroleum Corporation and Lukoil PJSC for the
merger of two concessions in the country's western desert.
The Italian oil-and-gas major said the concessions of Meleiha
and Meleiha Deep will be merged and extended to 2036, with the
possibility of a further stretch to 2041.
The new concession, called Merged Meleiha, will be operated by
Agiba--the joint venture between Eni's subsidiary IEOC Production
BV and the Egyptian General Petroleum Corporation. IEOC holds a 76%
interest in the concession, while Russia's Lukoil holds the
remaining 24%.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
June 15, 2021 07:09 ET (11:09 GMT)
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