2023-06-27 14:22:37 ET
Eni ( NYSE: E ) said Tuesday it agreed to sell several oil assets in Congo Republic to Anglo-French hydrocarbon group Perenco in a deal worth ~$300M.
The assets, which Eni ( E ) said are not part of its core operations, are its participation interests in several permits in Congo, but the company said the country - where it has operated for more than 50 years - remains a key part of its strategy for both energy security and transition.
Separately, Eni ( E ) CEO Claudio Descalzi said after talks with Cyprus President Nikos Christodoulides that plans for a pipeline to move offshore natural gas from Italy and Israel to Cyprus are "part of our discussion" with the Cypriot government.
Descalzi told the Associated Press that any plan to develop gas deposits discovered off Cyprus' southern coast "must have economic value."
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Eni to sell $300M worth of Congo oil assets to Perenco