01 Sep 2015
(MENAFN) Italy’s Eni is open to selling a stake in its “supergiant” Zohr gas field discovery off Egypt, as the state-controlled energy firm looks for funds to bankroll development without sacrificing dividends.
Eni said that it had discovered the largest known gas field in the Mediterranean off Egypt, covering an area of about 100 square kilometers and containing a potential 30 trillion cubic feet (tcf) of gas.
Eni last year was the first oil major to cut its dividend after a plunge in global oil prices. It has already sold part of its gas discovery in Mozambique and is seeking to sell another 15 percent.
“It’s an open door to give value and solidity to Eni’s balance sheet. But it will not be a necessary outcome. There is much less to spend than in Mozambique,” Eni Chief Executive said in a statement.
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
26 Jan 2026
BBK Enhances Autumn Fair 2026 Experience with Customized Rewards and Premium Services
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more