UK major BP is playing a leading role in Egypt’s gas renaissance and this week acquired a 25% stake in the country’s next big potential find, Nour, currently being drilled by Italian firm Eni north of the Sinai Peninsula.

Eni has yet to announce any results from the well, spudded by the Scarabeo-9 drillship in late September. BP paid an undisclosed sum for the stake, as did Abu Dhabi state firm Mubadala which farmed in for 20% on 12 November (MEES, 16 November). (CONTINUED - 1087 WORDS)