Eni: agreement to sell NAOC to Oando, Nigeria
(CercleFinance.com) - Eni has announced that it has received approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to sell Nigerian Agip Oil Company (NAOC) to Oando, a Nigerian oil and gas company.
NAOC, a wholly-owned subsidiary of Eni, specializes in onshore oil and gas exploration and production, as well as power generation in Nigeria.
Eni specifies that NAOC's stake in the SPDC (Shell Production Development Company) Joint Venture is not included in this sale and will remain in Eni's portfolio.
The SPDC JV is a collaboration between Shell, which holds a 30% stake and is the operator, TotalEnergies (10%), NAOC (5%) and the Nigerian National Petroleum Corporation (NNPC) (55%).
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NAOC, a wholly-owned subsidiary of Eni, specializes in onshore oil and gas exploration and production, as well as power generation in Nigeria.
Eni specifies that NAOC's stake in the SPDC (Shell Production Development Company) Joint Venture is not included in this sale and will remain in Eni's portfolio.
The SPDC JV is a collaboration between Shell, which holds a 30% stake and is the operator, TotalEnergies (10%), NAOC (5%) and the Nigerian National Petroleum Corporation (NNPC) (55%).
Copyright (c) 2024 CercleFinance.com. All rights reserved.