Russia’s Rosneft closed the transaction to buy a 30% stake in the Zohr gas field from Eni, TASS reports. The transaction was first reported in December 2016, where Rosneft was said to be paying Eni USD 1.125 bn for the stake and included a pro quota reimbursement of past expenditures amounting to USD 450 mn. Rosneft joins Eni, which owns a 60% stake of the field, and BP, which owns 10%, in developing Zohr. “Participation in the development of a unique production asset will strengthen positions of Rosneft in the strategic markets of Europe and Middle East,” Rosneft says, according to Reuters.

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