Eni in talks to sell stake in giant Mexico oilfield to Qatar

|By:, SA News Editor

Eni (E +1.6%) is in talks to sell a stake in its giant oil discovery offshore Mexico to Qatar Petroleum, Bloomberg reports.

Eni, which currently holds 100% of the find in Campeche Bay and expects to start production in early 2019, would sell 20%-35% to Qatar, but also is in talks with other potential suitors, according to the report.

The deal would mark the first Mexico farm-out by companies other than state-run Pemex since the country opened its oil industry to competition in 2013, ending decades of state monopoly over exploration and production.

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