Jan. 14 – Eni brings home new success from Egypt, a country of great historical and strategic importance for the Italian company. Under the International Competitive Bid Round EGAS 2013, Eni recently signed two new concession agreements to acquire the Egyptian offshore blocks of North Leil and Karawan, for which Eni becomes operator with shares of 100% and 50% (in joint partnership with BP), respectively. The two blocks, which will be operated through Eni’s subsidiary IEOC, are located in Egypt’s deepwater Mediterranean offshore, west of the Shorouk block, acquired last year by Eni. North Leil and Karawan cover 5105 and 4565 square km, respectively. The two agreements follow the recent acquisition of the Southwest Meleiha onshore block in the Western Desert, and thus further consolidate Eni’s position in Egypt. The new activities will also help revive offshore exploration activities in the country. Eni has been present in Egypt since 1954, and is the main producer in the country with an equity share of approximately 210,000 barrels of oil equivalent per day. (red)
