Eni buys 70% of Edison stake in Egypt’s gas

Italian energy company, Eni, has bought 70 per cent of Edison’s stake in Block 12 of the offshore Habi gas concession in Egypt’s eastern Mediterranean, an official at state-owned Egyptian gas company, EGAS, said on Thursday.

The official, who spoke on condition of anonymity, declined to give further details. Edison won Block 12 in a bidding round run by EGAS in 2015.