ENI SELLS IN EGYPT

ENI - Eni further strengthens its ties with Mubadala Petroleum, building on the successful partnership in the Shorouk concession. The Chief Executive Officer of Petroleum & Petrochemicals, Mubadala Investment Company, and Chairman of Mubadala Petroleum, Musabbeh Al Kaabi, and the Chief Executive Officer of Eni, Claudio Descalzi, signed an agreement today for the sale of a 20% participating interest, out of Eni's share, in the Nour North Sinai Offshore concession, in Egypt, to Mubadala Petroleum, a wholly owned subsidiary of Mubadala Investment Company.

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Earlier:

2018, November, 2, 11:55:00 EGYPT'S GDP UP TO 5.3% IMF - Egypt's GDP growth accelerated from 4.2 percent in 2016/17 to 5.3 percent in 2017/18 while unemployment declined to below 10 percent.

2018, May, 21, 10:35:00 IMF: EGYPT'S GROWTH UP IMF - “Egypt’s growth has continued to accelerate during 2017/18, rising to 5.2 percent in the first half of the year from 4.2 percent in 2016/17. The current account deficit has also declined sharply, reflecting the recovery in tourism and strong growth in remittances, while improved investor confidence has continued to support portfolio inflows. In addition, gross international reserves rose to $44 billion by end-April, equal to 7 months of imports.

2018, April, 25, 09:45:00 EGYPT NEED INVESTMENT $10 BLN REUTERS - Egypt aims for foreign investment in the oil and gas sector to reach about $10 billion in the 2018/19 fiscal year that begins in July, Petroleum Minister Tarek El Molla said

2018, February, 14, 09:40:00 BP STARTS IN EGYPT BP announced the start of gas production from the Atoll Phase One project, offshore Egypt. The project, in the North Damietta concession in the East Nile Delta, was delivered seven months ahead of schedule and 33% below the initial cost estimate.

2018, February, 2, 12:08:00 ZOHR INCREASES OUTPUT BLOOMBERG - Zohr, the largest undersea gas discovery in the Mediterranean, will pump 1.7 billion cubic feet per day before the end of 2018, el-Molla said in a televised ceremony to inaugurate the field. Egypt is talking with Rome-based Eni to increase output to reach the 2019 production target this year instead, he said.

2018, January, 24, 11:50:00 EGYPTIAN MACROECONOMIC TURNAROUND IMF - “This macroeconomic turnaround at home and the supportive global economic environment provide a unique opportunity to carry the reform momentum into areas that have historically been hard to tackle. Deep and lasting structural reforms are needed to create jobs as speedily as needed for Egypt’s growing population,” said Subir Lall, head of the IMF team for Egypt.

2017, December, 20, 19:20:00 BP: ZOHR HAS STARTED BP - BP confirmed that production has started from the super-giant Zohr gas field, offshore Egypt. The field is operated by Eni, through its joint venture with The Egyptian General Petroleum Corporation (EGPC), and is the largest natural gas discovery yet to be made in the Mediterranean Sea.