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

... stake in the Zohr field. There was no information about any other Russian companies’ interest in Egyptian projects. It is worth noting that the deal with Rosneft allowed the Italian firm to get close to its goal of reducing their share in the Zohr project to 50% [2] . Russian reluctance to enter exploration projects in Egypt is a logical choice on the one hand, yet indefensible on the other. On one hand, this is because unlike European companies, Russian oil and gas business has little experience of exploration in ...