Dubai PR Network, Online Press Release from Dubai and Middle East
 
Oil & Gas(Energy and Industry)
Filter PR by
  
Mubadala Petroleum completes the acquisition of a 20 percent interest in the Nour Concession in Egypt
 

Abu Dhabi, 10 December 2018:   Mubadala Petroleum announces that it has completed the acquisition from Italy’s Eni of a 20 percent participating interest in the Nour North Sinai Offshore Area (”Nour”) concession, an offshore exploration block in Egypt. 

In the concession, which is in participation with Egyptian Natural Gas Holding Company (EGAS), Eni as operator through its subsidiary, IEOC, now holds a 40 percent interest. The other partners in the concession are BP with 25 percent interest and Tharwa Petroleum Company with 15 percent interest. 

Dr. Bakheet Al Katheeri, Chief Executive Officer, Mubadala Petroleum signed a deed with Eni completing the sale to Mubadala Petroleum in the presence of the Egyptian Minister of Petroleum, H.E. Tarek El Molla, in Sharm El Sheikh. 

Dr. Al Katheeri, CEO of Mubadala Petroleum, said: “This acquisition of a 20 percent interest in the Nour concession is another step in Mubadala Petroleum’s growth strategy, marking our second investment in Egypt this year. At the same time, we further strengthen our partnership with Eni, the operator of both the Nour and the Shorouk concessions.”

The Nour exploration block is located in the prolific East Nile Delta Basin of the Mediterranean Sea, approximately 50 km offshore in the Eastern Mediterranean, with a water depth ranging from 50 to 400 meters, and covering a total area of 739 km2. 

Eni and Tharwa Petroleum Company are currently carrying out the drilling of the exploration well as foreseen in the first exploration period of the Nour concession.


Posted by : Dubai PR Network Editorial Team
Viewed 6283 times
PR Category : Energy and Industry
Posted on : Monday, December 10, 2018  9:08:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Oil and Gas Industry Set to Accelerate Move to Digital in 20...
Next Story : Oil rallies on Opec+ production cut, gold breaks higher
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Childrenswear That Speaks With a Conscience [9754-Views]
Versace – Spring/Summer 2019 Collection [9486-Views]
Dubai Jewellers Come Together to Celebrate UAE Mothers [8802-Views]
Put your best skin forward for Spring/Summer 19' with Kocostar's Camouflage range [8467-Views]
The Amphis Ritual [7375-Views]
Bentley Centenary Watch Celebrates a Proud Partnership [6826-Views]
GROHE Shapes the Future of Water with a record number of innovations at ISH 2019 [6521-Views]
The Perfect Gift for Mother's Day [6448-Views]
UL and Saudi Telecom Company announce plans to establish a Center of Excellence in Saudi A... [6399-Views]
Pomsies launch six new Fabulous Friends! [6137-Views]
Al-Futtaim Toyota and UAE Government Authorities confiscate 453,456 counterfeit car parts ... [6027-Views]
Now United to Perform at World Games' Opening Ceremony Pre-Show [5905-Views]
Time to Honour Our Moms with the Best from HONOR: Mother's Day Gift Guide [5807-Views]
Salvatore Ferragamo Timepieces - Spring/Summer 2019 Collection [5514-Views]
Salvatore Ferragamo Timepieces – Spring/Summer 2019 Collection [5490-Views]
Malabar Gold & Diamonds awarded by ‘The Health Education and Promotion Department, Ministr... [5380-Views]
Tonda 1950 Stone-set range [5368-Views]
Trade-in Your Old Device for a brand new Galaxy S10 [5203-Views]
Get Kylie Minogue's Youthful Complexation with The Organic Pharmacy's Rose Diamond Cream [5100-Views]
New in this month at Home and Soul Dubai [4959-Views]
The Balmain Haute Elegance Oval mirrors the brand's soul [4691-Views]
Go on, catch the summer moments [4685-Views]
Celebrate Mother's Day with the perfect gift from Sawalef Perfumes [4599-Views]
World's most expensive perfume ‘SHUMUKH' launched at The Dubai Mall as an exquisite tribut... [4587-Views]
Dubai Modest Fashion Week Celebrates a Successful Return for 2019 [4575-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories