Eni, an Italian oil and gas company, signed on Tuesday two new concession agreements with the Egyptian ministry of petroleum for North El Hammad and North Ras El Esh, located in the shallow waters in Egyptian Mediterranean Sea.
The agreements comes as a result of the EGAS 2015 international bid round, regarding, according to a press release.
Eni is the operator of the North El Hammad block with an equity of 37.5% in participation with BP, who has a 37.5% stake, and with Total, who has 25% a stake.
The Italian company also has a 50% participation stake in the North Ras El Esh block, operated by BP with an equity of 50%.
