Eni has concluded its sale to China’s CNPC of 28.57% of Eni East Africa’s shares.
Offshore staff
SAN DONATO MILANESE, Italy – Eni has concluded its sale to China’s CNPC of 28.57% of Eni East Africa’s shares. The company’s assets include a 70% interest in Area 4 offshore Mozambique.
The deal is valued at $4.21 billion and gives CNPC a 20% indirect participation in Area 4. Eni remains indirect owner of the 50% participation owned by Eni East Africa.
Other participants in Area 4 are Empresa Nacional de Hidrocarbonetos de Mozambique (ENH, 10%), Kogas (10%), and Galp Energia (10%).
