BP has reached an agreement with Eni to buy a 10% interest in the Shorouk offshore concession containing the Zohr gas field for USD 375 mn, BP said in a statement. BP also has the option to acquire a further 5% before the end of 2017 under the same terms. On closing, BP will reimburse Eni USD 150 mn for share of past expenditures, Reuters reported. “This interest in a truly world-scale asset will complement our existing Egyptian business. We already have a strong partnership with Eni in Egypt and look forward to working closely with them to efficiently bring these important resources to the Egyptian market,” BP CEO Bob Dudley said. The purchase is subject to regulatory approval in Egypt, and is expected to be completed in 2Q2017. BP will be subject to the same development agreement that Eni is under, unnamed sources told Al Shorouk. Sources at the Oil Ministry said drilling operations will be unaffected by the agreement and proceed as normal, Amwal Al Ghad reported. The story is the lead piece on Egypt in the international business press this morning.