Eni has completed the sale of its Nigerian subsidiary, Agip Energy and Natural Resources to Apex Global Energy, a company wholly owned by Sterling Oil Exploration and Energy Production Company.

AENR is involved in onshore and shallow-water oil and gas exploration and production in Nigeria, holding a 5% stake in the Renaissance joint venture, operated by Renaissance with a 30% interest alongside TotalEnergies and Nigerian National Petroleum Company Limited (NNPC).

The transaction received approval from all relevant authorities and forms part of Eni’s strategy to streamline its upstream portfolio and divest non-strategic assets.

Eni said it would maintain its presence in Nigeria through the exploration and development of deep offshore assets and its participation in Nigeria LNG, as it continues to focus on strategic operations in the country’s energy sector. -OGN/TradeArabia News Service