Eni has closed a deal to divest participation interests in several upstream permits in Congo to Perenco. The $300-million deal, first announced in June 2023, received approval of relevant authorities, Eni said in a release Mar. 12.
Eni called the interests “non-core to the company strategy in the country,” but further details about the assets were not disclosed.
Eni has been present in Congo for over 50 years and remains committed to develop the country’s gas resources, in particular through the Congo LNG project, it said.
Eni currently supplies gas to the Congo Electric Power Station (CEC), which provides 70% of the country's electricity production.
The company’s 2023-2026 strategy is to focus its upstream activities on major developments and includes divesting resources “that can offer greater value and opportunities to new owners.”
In September 2023, Eni agreed to sell its wholly owned Nigerian subsidiary to Oando PLC (OGJ Online, Sept. 8, 2023).