MILAN, Nov 25 (Reuters) - Eni has agreed to sell a10 percent stake in the Shorouk concession offshore Egypt toBP, the Italian oil and gas group said in a statement onFriday.
The agreement envisages a payment of $375 million and the pro-quota reimbursement of past expenditures, which so faramount to around $150 million.
Eni, which through its subsidiary IEOC holds a 100 percentstake in the block, said BP had the option to buy a further 5percent stake in the field under the same terms.
The concession includes the supergiant Zohr gas field, whichwas discovered by Eni in August 2015 and is the largest naturalgas field ever found in the Mediterranean, with a totalpotential of 850 billion cubic meters of gas in place. (Reporting by Agnieszka Flak, editing by Silvia Aloisi)