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Egypt/Region: Energean in Edison acquisition
Mediterranean-focused Energean Oil & Gas has agreed to acquire Italy’s Edison E&P for an initial $750m. Following an initial public offering in March 2018, Energean’s strategy has been to become the leading independent, gas-focused exploration and production company in the Mediterranean, driven by development of the 2.4tcf Karish and Tanin gas fields offshore Israel. In Africa, the deal will give Energean producing assets in Algeria and a new development area in Egypt.
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