Egypt: Mubadala buys into Zohr


Issue 365 - 15 Mar 2018
A subsidiary of Abu Dhabi sovereign wealth fund Mubadala Investment Company has bought a 10% stake in the Shorouk concession from Eni for $934m, giving it part ownership of the super-giant Zohr field. Zohr started production in December 2017 and is now producing 400mcf/d. It is expected to reach 700mcf/d by May and to achieve its intended plateau of 2.7bcf/d by the end of 2019.Eni has farmed out two other stakes in the concession.

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