Cabinet denies Egypt's quota in natural gas field affected by Eni sale

Cabinet's information center denied news on Egypt's quota in the natural gas field of Zohr in the Mediterranean Sea will be affected by an Eni sale to BP, saying it is baseless.

Eni, the Italian energy company that discovered the field off the Egyptian coast, sold 10 percent of its share to the British Petroleum (BP) company and put up another 5 percent for sale to the same company. 

The center, in a report issued on Monday, said it made contacts with ministry of petroleum and mineral resources which denied the news completely, saying the move will not affect Egypt's quota.

The ministry said the process of buying and selling is conducted upon conditions set in the contract, explaining that Eni's sale of a part of its quota is normal and is internationally recognized.

It added that the presence of two international companies in the field, sends a message that the future of deep waters in the Mediterranean Sea is promising .