Eni Expands Egyptian Portfolio

Italy-based Eni increased its portfolio in the Mediterranean, signing two new concession agreements with Egyptian authorities. 

‘As a result of the EGAS 2013 bid round, Eni signed two concession agreements for the North Leil  and Karawan  blocks offshore Egypt. Eni  is the operator and holds 100% equity in North Leil and 50% equity in Karawan, where it partners with BP’ reads the note released on Wednesday.

Eni’s licence are in deep waters, west of its Shorouk block. The two new blocks, which jointly covers over 9,600 square kilometres, follows a renewed interest for Egypt. The company acquired the Shorouk block in 2014. 

The six-legged dog has recently been awarded the Southwest Meleiha Block. 

Eni is the main producer in the country. According to the company, it controls an equity of approximately 210,000 barrels of oil equivalent per day.