2023-09-04 09:10:58
Italian energy group Eni on Monday signed an agreement to sell its Nigerian Agip Oil Company (NAOC) unit to its Nigerian counterpart Oando, the group said in a statement.
NAOC, which focuses on oil and gas exploration and production, has interests in four onshore blocks and two onshore exploration leases in Nigeria, Eni said without providing financial details of the deal.
Following the sale, which is subject to local and regulatory clearance, Eni will retain NAOC’s 5% stake in the Shell Production Development Company (SPDC) joint venture operated by Shell, the group added.
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