(MENAFN) Italy's Eni is open to selling a stake in its "supergiant" Zohr gas field discovery off Egypt, as the state-controlled energy firm looks for funds to bankroll development without sacrificing dividends.
Eni said that it had discovered the largest known gas field in the Mediterranean off Egypt, covering an area of about 100 square kilometers and containing a potential 30 trillion cubic feet (tcf) of gas.
Eni last year was the first oil major to cut its dividend after a plunge in global oil prices. It has already sold part of its gas discovery in Mozambique and is seeking to sell another 15 percent.
"It's an open door to give value and solidity to Eni's balance sheet. But it will not be a necessary outcome. There is much less to spend than in Mozambique," Eni Chief Executive said in a statement.
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