Mubadala Energy has completed the acquisition of a 15% stake in Egypt’s Nargis gas field. It purchased the stake from Eni, which retains 30% in the Chevron-operated (45%) 2.8tcf field.
Discovered in 2023, talks between the Nargis partners and Cairo have focused on improving the concession’s fiscal terms including a hike in the price of gas Egypt will pay (MEES, 7 June 2024). (CONTINUED - 177 WORDS)