Eni has secured all the necessary approvals from Nigerian authorities to sell its subsidiary, Agip Energy and Natural Resources (Nigeria) Limited (AENR), to Apex Global Energy Limited (APEX), a wholly owned subsidiary of Sterling Oil Exploration and Energy Production Company Ltd (Sterling), one of Nigeria’s leading onshore operators.
AENR, which Eni wholly owns, holds interests in Nigeria’s shallow-water hydrocarbon exploration and production sector. The company owns a 5% stake in the Renaissance JV, alongside Renaissance (30%), which operates the venture, TotalEnergies (10%) and Nigerian National Petroleum Company Limited (55%).
Eni is shifting its focus towards deepwater assets, including Nigeria LNG, and stepping back from assets it considers non-strategic. The sale reflects this shift, as AENR has maintained an established presence in Nigeria’s onshore sector.
source: oilreviewafrica.com
African Energy Council