Nigeria : Eni to sell its oil and gas interests for at least $500 million

The Italian energy group Eni announced on Monday September 4, 2023 that it had reached an agreement with the local company Oando. The deal, budgeted at more than $500 million, involves the acquisition by the local oil company of the Nigerian Agip Oil Company (NAOC), Eni’s subsidiary in Nigeria. The Company is engaged in the exploration, production and distribution of oil and natural gas in the country. As such, NAOC holds a 20% interest in OMLs 60, 61, 62 and 63 currently in production.