Eni has signed a binding agreement with US private company Hilcorp for the sale of 100% of the Eni-owned Nikaitchuq and Oooguruk assets offshore Alaska.
Hilcorp began its Alaska business in 2011 and 2012, when it bought Cook Inlet assets (pictured) from Chevron and Marathon. Hilcorp is now the dominant Cook Inlet operator controlling about 90% of the leases and production there.
MILAN, Italy – Eni has signed a binding agreement with US private company Hilcorp for the sale of 100% of the Eni-owned Nikaitchuq and Oooguruk assets offshore Alaska.
The Nikaitchuq Field is located offshore the North Slope of Alaska in a water depth of 3 m. Nikaitchuq production began in January 2011. In February 2011, Eni reported that Nikaitchuq was expected to produce for more than 30 years with peak production of 28,000 bbl/d of oil.
The Oooguruk oil field has been in production since 2008. Eni acquired full control of the Oooguruk Field in 2019 when it bought the remaining 70% of the asset it did not already own from Caelus Natural Resources Alaska LL.
Eni says its strategy focuses on rebalancing its upstream portfolio and divesting non-strategic assets.
The closing of this transaction is subject to appropriate regulatory approvals and other customary terms and conditions.
The value of the transaction will be announced upon its closing. However, Reuters reported, "Financial analysts estimated potential proceeds of $428-855 million for the deal with one source pointing to the high end of that range."
