Value of deal to be announced at closing (Il Sole 24 Ore Radiocor) - Milan , 27 Jun - The Italian oil and gas group Eni said it has signed a binding agreement with Hilcorp, a US private company with extensive experience operating in the state of Alaska, for the sale of 100% of the Nikaitchuq and Oooguruk assets owned by Eni in Alaska. Eni said that the value of the transaction will be announced upon its closing.

It noted that the sale is in line with its strategy of rationalizing upstream activities by rebalancing its portfolio and divesting non-strategic assets.

Eni has committed to delivering a net 8 billion euros of net portfolio inflow, front-end loaded, over the 2024-27 business plan. "Proceeds are anticipated to come from three main sources: high-grading the Upstream portfolio, diluting down high equity ownership exploration discoveries, and accessing new pools of capital via Eni's satellite strategy to support the growth of its transition businesses while confirming progress in value creation," Eni said.

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(RADIOCOR) 27-06-24 11:51:09 (0299) 5 NNNN