Rosneft acquired a 30% stake in Zohr field from Eni

AP Photo/Mikhail Metzel

AP Photo/Mikhail Metzel

Rosneft closed the deal to acquire a 30% stake in the concessions agreement for the development of Zohr field, the largest gas field in the Mediterranean Sea, from Eni, for an acquisition cost of $1.125 billion. The Company also refunded its share in past project costs to Eni.
The Company becomes a participant of the project to develop the largest deepwater gas field offshore Egypt jointly with other world majors and strategic partners of Rosneft – Eni (60% stake) and BP (10% stake).
The deal will enable the Company to share significant experience in offshore field development, using existing competencies in offshore production. Participation in the development of a unique production asset will strengthen positions of Rosneft in the strategic markets of Europe and Middle East.