The Phoenix: Prospects of Egypt’s Oil and Gas Sector

... importer, to that of a country with exporting potential. Where is Russian Business? Russian business is not staying on the sidelines. In December 2016, Rosneft announced an unexpected deal of buying a 30% share in the Shorouk block, which includes Zohr field. Before that, only Lukoil expressed interest in investing in upstream projects in Egypt, where it had already had some investment in oil and gas production. Lukoil reportedly negotiated with Eni about buying a 20% stake in the Zohr field. There was no information about any ...