Energean’s finances will come under scrutiny in the coming weeks as it seeks to turn an indicative offer of around $1bn for BP’s Egyptian upstream assets into a firm bid.
Reuters reported on 27 August that Energean has entered into exclusive negotiations with BP for the majority of the UK major’s Egyptian assets, excluding those held alongside UAE state firm XRG in the Arcius JV (MEES, 22 May). The deal could be worth around $1bn to BP. (CONTINUED - 886 WORDS)
