By OGJ editors
HOUSTON, Aug. 9--Gas Plus SpA, Milan, has agreed to buy 100% interest in Padana Energia SpA, which holds exploration and development rights in northern Italy, from Eni.
Gas Plus will pay €175 million and as much as €25 million in relation to production in the next 5 years. Padana holds 11 exploitation concessions, 2 concession requests, and 1 research permission.
The buyer also acquired the option to buy 100% of Adriatica Idrocarburi SpA, which holds concession interests in central Italy. The option expires Sept. 30.
Eni called the sale part of its “initiative to rationalize its portfolio and optimize its operating efficiency in Italy.”