Multinational energy company Eni has closed a deal for the sale of some of its upstream assets with oil and gas company Perenco in the Republic of Congo. The $300 million deal was first announced in June 2023 and is in line with Eni’s strategy to streamline operations and focus on major upstream developments in the country. In a press statement, Eni stated that it is “committed to develop the Country’s vast gas resources, in particular through the Congo LNG project, fulfilling the country’s power generation needs while also fueling LNG exports.” The aim of the deal is to meet the Republic of Congo and Europe’s energy security and energy transition targets.
Source: energycapitalpower.com