https://en.sputniknews.africa/20240725/energy-giant-eni-gets-green-light-to-sell-nigerian-unit-to-nigerias-leading-energy-company-oando-1067627363.html
Energy Giant Eni Gets Green Light to Sell Nigerian Unit to Nigeria's Leading Energy Company OANDO
Energy Giant Eni Gets Green Light to Sell Nigerian Unit to Nigeria's Leading Energy Company OANDO
Sputnik Africa
This transaction signifies Eni's strategic realignment in Nigeria, focusing its efforts on deepwater operations and gas projects while transferring its onshore... 25.07.2024, Sputnik Africa
2024-07-25T12:03+0200
2024-07-25T12:03+0200
2024-07-25T12:03+0200
sub-saharan africa
nigeria
liquefied natural gas (lng)
west africa
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Italian energy giant Eni has received approval from the Nigerian Upstream Petroleum Regulatory Commission to sell its Nigerian Agip Oil Company (NAOC) to OANDO, Nigeria's leading energy company. This move marks a significant shift in Eni's presence in the country.NAOC, which specializes in onshore oil and gas exploration and production, as well as power generation, will be fully transferred to OANDO.However, Eni's stake in the Shell Production Development Company JV (SPDC) will remain within its portfolio.Despite this divestment, Eni has stated its continued commitment to Nigeria through investments in deepwater projects and the Nigeria LNG project.
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nigeria, liquefied natural gas (lng), west africa, oil, gas, economy
nigeria, liquefied natural gas (lng), west africa, oil, gas, economy
Energy Giant Eni Gets Green Light to Sell Nigerian Unit to Nigeria's Leading Energy Company OANDO
Muhammad Nooh Osman
Writer/Editor
This transaction signifies Eni's strategic realignment in Nigeria, focusing its efforts on deepwater operations and gas projects while transferring its onshore activities to OANDO.
Italian energy giant
Eni has received approval from the Nigerian Upstream Petroleum Regulatory Commission to sell its Nigerian Agip Oil Company (NAOC) to OANDO, Nigeria's leading energy company. This move marks a significant shift in Eni's presence in the country.
NAOC, which specializes in onshore oil and gas exploration and production, as well as power generation, will be fully transferred to OANDO.
However, Eni's stake in the Shell Production Development Company JV (SPDC) will remain within its portfolio.
Despite this divestment, Eni has stated its continued commitment to Nigeria through investments in deepwater projects and the
Nigeria LNG project.
