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Russia's Rosneft board to discuss buying stake in Shorouk concession in Egypt

Mon, 05th Dec 2016 14:46

MOSCOW, Dec 5 (Reuters) - The board of Russia's Rosneft plans to discuss buying a stake of up to 35 percent inthe Shorouk concession, offshore Egypt, the company said onMonday.

The board plans to discuss the potential deal on Dec. 7.Rosneft did not provide an estimated value of the deal. Lastmonth, Eni agreed to sell a 10 percent stake in theShorouk concession to BP.

The concession includes the supergiant Zohr gas field, whichwas discovered by Eni in August 2015 and is the largest naturalgas field ever found in the Mediterranean, with a totalpotential of 850 billion cubic meters of gas in place. (Reporting by Katya Golubkova; Editing by Christian Lowe)

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