Italy’s Eni has indicated it is looking to sell down its stake in its giant Zohr field in Egypt, a scenario that is causing concern among Egyptian stakeholders.
Eni Chief Executive Claudio Descalzi said on a conference call last week that Zohr was among assets the company was considering targeting for disposal. He said Eni had had to change its strategy for Zohr as the requirement to bring the start of production forward to 2017 had resulted in extra upfront capex costs in the form of another onshore processing facility.
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