Mubasher: Eni sold a 10% stake in the Shorouk concession to Mubadala Petroleum.

The Shorouk concession is offshore Egypt, where the supergiant Zohr gas field is located, according to the company’s statement.

Eni now holds a 50% stake of the Contractor’s Share, while Rosneft holds 30%, BP 10% and Mubadala Petroleum 10%.

The Italian company aims at reaching 2 billion cubic feet of gas per day (bcfd) of total installed treatment capacity by the end of the year, and a production plateau of 2.7 bcfd by the end of 2019.

Zohr's current production is over 1.1 bcfd, corresponding to 200,000 barrels of oil equivalent per day.