Eni Announces the Sale of its Pakistan Assets to Prime International

Source: www.gulfoilandgas.com 3/9/2021, Location: Asia

Eni reached an agreement today to sell its shares in its entities in Pakistan to Prime International Oil&Gas Company, a newly established company formed by former Eni’s local employees team and Hub Power Company Ltd, the largest Independent Pakistani Power Producer.

The activities covered by the agreement include interests in eight development and production leases in the Kithar Fold Belt, and the Middle Indus Basins and four exploration licenses in the Middle Insud and the Indus Offshore Basins. Eni's main permits were in Bhit/Badhra (40% of working interest) and Kadanwari (18.42% of working interest). Other shares were in the permits for Latif (33.3%), Zamzama (17.75%) and Sawan (23.7%).

This agreement aligns to Eni's wider strategy of reshaping and simplifying the company's portfolio, extracting additional value from its strategic assets and disposing non-core businesses as per its Strategic Plan 2021-2014.


Nigeria >>  7/1/2022 - ADM Energy PLC, a natural resources investing company, provides an update on the legal proceedings in respect of its interest in the Barracuda oil fie...
Norway >>  7/1/2022 - Rex International Holding Limited (“Rex International Holding”, “Rex” or the “Company”, and together with its subsidiaries, the “Group”), a technology...

Norway >>  7/1/2022 - The farmin agreement with OMV (Norge) AS ("OMV"), which was first announced on May 9, 2022, has now been concluded, according to Longboat Energy, an u...
Nigeria >>  6/30/2022 - Reference is made to previous stock exchange releases by PetroNor E&P ASA (“PetroNor") regarding the acquisition of Panoro Energy ASA’s (“Panoro”) int...

United States >>  6/30/2022 - U.S. Energy Corp. has entered into an agreement (the “Agreement”) to acquire operated oil and gas producing properties in an all-cash transaction (the...
Tanzania >>  6/29/2022 - Wentworth, the independent, Tanzania-focused natural gas production company, is pleased to provide an update on its agreement with Scirocco Energy plc...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.