Rosneft looking into buying additional 5% Zohr stake

Rosneft CEO Igor Sechin told reporters the company is considering buying an additional 5% stake in Zohr, Reuters reports. Rosneft recently closed its acquisition of a 30% stake in the gas field — first announced last year — from Eni for USD 1.125 billion. Sechin also added some of the gas produced from Zohr “could be supplied to Europe.”
This comes as EGAS sources say that the field will begin production as early as next month at a daily capacity of 350 mmcf, according to Youm7. Production will double to around 700 mmcf/d before the end of 1Q2018, the source added.