Eni Wins Stakes in Two Abu Dhabi Oil Concessions
- Abu Dhabi awards rights to offshore fields for $875 Million
- Emirate’s Mubadala pays Eni $934 million for Egypt gas stake
Photographer: Simon Dawson/Bloomberg
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Italian energy company Eni SpA won rights to pump oil at two blocks off the coast of Abu Dhabi and sold the Middle Eastern crude producer a stake in Egypt’s giant Zohr natural gas field, a deal involving combined payments of $1.8 billion.
Abu Dhabi National Oil Co. awarded Eni a 10 percent share in the Umm Shaif and Nasr oil fields in the Persian Gulf for a payment of $575 million, the companies said. Rome-based Eni will also take a 5 percent stake in the Lower Zakum deposit for $300 million, they said.