This agreement aligns to Eni's wider strategy of reshaping and simplifying the company's portfolio, extracting additional value from its strategic assets and disposing non-core businesses as per its 4 year strategic plan
Roma, March 10 - Neftegaz.RU. Eni reached an agreement to sell its shares in its entities in Pakistan to Prime International Oil&Gas Company.
Eni reported this on March 10, 2021.
Prime International Oil&Gas Company - newly established company formed by former Eni’s local employees team and Hub Power Company Ltd, the largest Independent Pakistani Power Producer.
The activities covered by the agreement include interests in 8 development and production leases in the Kithar Fold Belt, and the Middle Indus Basins and 4 exploration licenses in the Middle Indus and the Indus Offshore Basins.
Eni's main permits were in Bhit/Badhra (40% of working interest) and Kadanwari (18,42% of working interest).
Other shares were in the permits for Latif (33,3%), Zamzama (17,75%) and Sawan (23,7%).
This agreement aligns to Eni's wider strategy of reshaping and simplifying the company's portfolio, extracting additional value from its strategic assets and disposing non-core businesses as per its Strategic Plan 2021-2024.
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