Italy's Eni Inks Deal With Egypt, Russia's Lukoil To Merge Oil Concessions
Sumaira FH Published June 15, 2021 | 05:39 PM
Italian oil giant Eni announced on Tuesday signing a deal with the Egyptian state oil corporation and the Russian energy company Lukoil to merge the Meleiha and Meleiha Deep concessions into a single, Merged Meleiha concession
MOSCOW (UrduPoint News / Sputnik - 15th June, 2021) Italian oil giant Eni announced on Tuesday signing a deal with the Egyptian state oil corporation and the Russian energy company Lukoil to merge the Meleiha and Meleiha Deep concessions into a single, Merged Meleiha concession.
"Eni has signed an agreement with the Arab Republic of Egypt, the Egyptian General Petroleum Corporation (EGPC) and Lukoil for the merger of the concessions of Meleiha and Meleiha Deep, in Egypt's Western Desert, and their extension to 2036, with the possibility of reaching further to 2041," Eni said in a statement.
The new concession will enable the parties to carry out exploration activities over the stipulated period and will be operated by Agiba, a joint venture between Eni and EGPC, through its subsidiary IEOC which will own 76 percent of the concession while the rest 24 percent will belong to Lukoil.
Recent Stories
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
Pak-US officials engage to enhance trade, investment ties
IBCC to promote educational excellence, expand regional presence
Pakistani 'Blue Helmets' serving UN Peacekeeping Mission in DR Congo set to leav ..
Putin says plans to visit China in May
More Stories From Business
-
Chinese minister felicitates Ahsan Iqbal on reappointment as Planning minister
6 hours ago -
Pak-US officials engage to enhance trade, investment ties
7 hours ago -
Stocks fall as tech shares sink, US economy slows
7 hours ago -
Higher taxes, awareness help decrease cigarettes sale in Pakistan
8 hours ago -
Ahsan Iqbal chairs CPEC JWGs, 13th JCC review-meeting
8 hours ago -
Industries Minister recommends urea fertilizer import to stabilize prices and supply
8 hours ago
-
Honda announces US$11 bn EV battery and vehicle plant in Canada
8 hours ago -
Zhao Shirin calls on Punjab Industries Minister
9 hours ago -
CEO APM Terminals calls on Finance Minister
9 hours ago -
SACM visits GTVC checks attendance register
9 hours ago -
CEO APM Terminals meets Commerce Minister
9 hours ago -
RTO destroys huge quantity of non-duty paid cigarettes
10 hours ago