French utility firm Electricite de France (EDF) is looking to raise around $2bn from the sale of the upstream assets of its Italian subsidiary Edison. Key assets are in Egypt and Algeria.

Edison operates Egypt’s shallow-water 270mn cfd Abu Qir field near Alexandria. It plans to invest $200mn this year in tying in discoveries on two additional blocks further offshore, North Idku and North El Amriya, for Q1 2021 start-up.

Further to the east, Edison also operates two highly-rated...