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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.

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"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.

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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