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Oil exploration   A strategic partnership

Rosneft closes purchase of 30% stake in Egyptian Zohr gas field

Egyptian Zohr gas fieldRosneft has closed the transaction to acquire a 30% stake in the concessions agreement for the development of the Egyptian Zohr field, the largest gas field in the Mediterranean Sea, from Italy's Eni.

"The cost of Rosneft stake acquisition is $1.125 billion. The company also refunded its share in past project costs to Eni," the report said.

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READ MORE Russia to sell 19 percent stake in Rosneft

The agreement stipulates a strategic partnership between Rosneft, Eni (60% stake) and BP (10% stake) to develop the largest deepwater gas field offshore Egypt, the company said.




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