Mubadala Energy completes acquisition of 15% stake in Eni's Nargis concession

Feb 19 (Reuters) - Abu Dhabi-based Mubadala Energy has completed its acquisition of a 15% participating interest in the offshore Mediterranean Nargis concession from Italy's Eni ENI.MI, the UAE's state news agency WAM reported on Thursday.

• Eni, through its subsidiary IEOC, holds a 30% stake, while Chevron CVX.N operates the concession with a 45% share and Tharwa Petroleum holds 10%.

• The concession is held jointly with Egypt's state-owned Egyptian Natural Gas Holding Company, with the contractor group and EGAS each holding a 50% interest.

• The block includes exploration activities initiated in early 2023 at the Nargis-1 prospect.