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Tag: Saipem

Eni and EGPC establish JV for Zohr ‘super giant’ gas field

Posted: February 6, 2016 at 3:05 pm   /   Oil & Gas

Eni and Egyptian General Petroleum Corporation (EGPC) have announced to enter into a joint venture to create Petro Shorouk. Petro Shorouk will be a subsidiary of Petrobel and will be tasked to complete the first stage of development of the Zohr gas field by the end of 2017, according to Daily News Egypt reports. The […]

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Eni completes sale of 12.5% of Saipem share capital to Fondo Strategico Italiano

Posted: January 23, 2016 at 5:40 pm   /   Oil & Gas

The Shareholders Agreement between Eni and FSI has taken full effect With reference to the sale and purchase agreement between Eni S.p.A. and Fondo Strategico Italiano S.p.A., the object of which is the sale, from Eni to FSI, of a stake in Saipem S.p.A. share capital, consisting of n. 55,176,364 ordinary shares, equal to 12.5% […]

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Eni's sale of Saipem stake gets European Commission clearance

Posted: January 13, 2016 at 3:02 pm   /   Oil & Gas

Eni: sale of a stake in Saipem, the antitrust condition precedent has been satisfied after the clearance of the European Commission Reference is made to the sale by Eni S.p.A. (“Eni”) to Fondo Strategico Italiano S.p.A. of a stake in Saipem S.p.A., consisting of 55,176,364 ordinary shares that correspond to 12.5% of Saipem’s share capital […]

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Production in Zohr fields to begin before end of 2017

Posted: January 6, 2016 at 7:15 pm   /   Oil & Gas

EGPC Chairman: Procedures of establishing Petro Shorouk will begin to manage and develop Zohr field. Petrobel is nearing the official formation of Petro Shorouk, the company’s subsidiary that will be tasked with completing the first developmental phase of the Zohr natural gas field before the end of 2017. The Italian Eni discovered Zohr field in […]

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