Eni announces sale of Nigerian subsidiary AENR to APEX
Eni announces that it has completed the sale of its subsidiary Agip Energy and Natural Resources (Nigeria) Limited (“AENR”) to Apex Global Energy Limited (“APEX”), a company wholly owned by Sterling Oil Exploration and Energy Production Company Ltd (“Sterling”), one of Nigeria’s leading operators in the onshore sector.
AENR, a wholly owned subsidiary of Eni, is engaged in onshore and shallow water hydrocarbon exploration and production in Nigeria, holding a 5% share in the Renaissance JV (Renaissance 30%, operator; TotalEnergies 10%; and Nigerian National Petroleum Company Limited “NNPC” 55%).
The transaction, which has received approval from all relevant authorities, is in line with Eni’s strategy to optimize its upstream activities by rebalancing the portfolio and divesting non-strategic assets.
Eni will continue to maintain a presence in the country through exploration and development of deep offshore assets as well as through its participation in Nigeria LNG.
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