Article

Mubadala Energy has completed the acquisition of a 15% interest in Egypt's Nargis Offshore Area concession from Eni. The concession, located in the East Nile Delta Basin, is operated by Chevron, which holds a 45% interest.

Eni retains a 30% interest through its subsidiary, while Tharwa Petroleum Company has 10%. The Nargis-1 gas discovery was made in early 2023, and the concession is part of Mubadala's strategy to expand its portfolio in the Eastern Mediterranean.