Egypt says approves BP acquisition of 25 percent stake in Eni’s Nour concession

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CAIRO (Reuters) – Egypt’s petroleum minister on Sunday signed 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 <BP.L> will buy 25 percent and Abu Dhabi state fund Mubadala 20 percent of Italian energy company Eni’s stake, the petroleum ministry said in a statement.

Eni <ENI.MI> had held an 85 percent stake and Egypt-based Tharwa Petroleum Co holds 15 percent of Nour.

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