BAKU, Azerbaijan, October 26. Eni, an Italian
energy company, has completed the sale of its subsidiary Agip
Energy and Natural Resources (Nigeria) Limited (AENR), the company
said on October 26.
AENR has been acquired by Apex Global Energy Limited (APEX), a
company wholly owned by Sterling Oil Exploration and Energy
Production Company Ltd, one of Nigeria’s leading operators in the
onshore sector.
AENR, a wholly owned subsidiary of Eni, conducts onshore and
shallow-water hydrocarbon exploration and production in Nigeria. It
holds a 5% stake in the Renaissance joint venture (JV), operated by
Renaissance with a 30% interest. Other partners are TotalEnergies,
with 10%, and Nigerian National Petroleum Company Limited (NNPC),
with 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,” said
Eni.
Eni is an integrated energy company, founded in 1953, with
31.376 employees in 69 countries around the world, including
Algeria, Angola, Mozambique, Mexico, Indonesia and Italy. In 2021,
the company launched a new strategy that will enable it to provide
a variety of fully decarbonized products, combining environmental
and financial sustainability. The recent merger of the renewable
and retail businesses in Plenitude (formerly Eni gas e luce), the
development of bio-refineries and biomethane production, and the
sale of low-carbon energy carriers and mobility services at service
stations are among the main levers for taking the path towards
decarbonization.
The company adopts an integrated model based on satellite
companies, strategic companies for the transition and innovation,
and subsidiaries.
