(AGENPARL) - Roma, 24 Luglio 2024 - (AGENPARL) – mer 24 luglio 2024 Eni receives consent from Nigerian Upstream Petroleum
Regulatory Commission to the sale of NAOC to OANDO
San Donato Milanese (Milan), 24 July 2024 – Eni has received formal consent from the
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for the sale of NAOC Ltd
to Oando Plc.
Having already obtained all other relevant local and regulatory authorities’ authorizations,
this achievement will allow Eni to proceed to the completion of the transaction for the sale
of Nigerian Agip Oil Company Ltd (NAOC Ltd), Eni’s wholly owned subsidiary focusing on
onshore oil & gas exploration and production as well as power generation in Nigeria, to
Oando PLC, Nigeria’s leading national energy solutions provider, listed on both the Nigerian
and Johannesburg Stock Exchange.
NAOC Ltd participating interest in SPDC JV (Shell Production Development Company Joint
Venture – operator Shell 30%, TotalEnergies 10%, NAOC 5%, NNPC 55%) is not included
in the perimeter of the transaction and will be retained in Eni’s portfolio.
Eni remains committed to the country through investments in deepwater projects and Nigeria
LNG. Furthermore, the company is developing plans for economic diversification in the
country which include assessing the potential production of agri-feedstock for Enilive
biorefineries and various nature- and technology-based projects, such as clean cooking
initiatives, to offset emissions.
Eni has been operating in Nigeria since 1962, actively engaging in hydrocarbon exploration
and production, as well as power generation. Currently, Eni has a substantial portfolio of
assets in exploration and production, with an equity production of approximately 40,000
barrels of oil equivalent per day net of NAOC contribution. Eni also holds a 10.4% interest
in Nigeria LNG.
Eni company contacts:
Website: http://www.eni.com/