Egypt approves BP, Mubadala acquisitions in Noor concession
Egypt’s Petroleum Minister, Tarek El Molla, signed on Sunday an agreement with BP and UAE-based Mubadala Investment Co, giving them stakes in the Nour gas field off the northern coast of Sinai. BP will buy 25% and Abu Dhabi state fund Mubadala 20% of Italian energy company Eni’s stake, the Petroleum Ministry said in a statement. Eni had held an 85% stake and Egypt-based Tharwa Petroleum Co holds 15% of Nour.
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