Eni, BP take licenses offshore Egypt in 2015 bid round

|About: BP p.l.c. (BP)|By:, SA News Editor

Eni (E -1%) and BP (BP -1.8%) say they have been awarded two new exploration licenses in the Mediterranean Sea off Egypt under this year’s acreage round.

BP will operate the North Ras El Esh block, where interest is split 50-50 between BP and Eni, while Eni will operate the North El Hammad block, with 37.5% interest along with BP's 37.5% and third partner Total's 25% stake.

Eni has been present in Egypt since 1954, and its current production there totals 190K boe/day.

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