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Eni sells its 5% onshore stake in Nigeria’s Renaissance joint venture

By , based on Leadership

Eni sells its 5% onshore stake in Nigeria’s Renaissance joint venture

Italian group Eni has completed the sale of its subsidiary Agip Energy and Natural Resources to Apex Global Energy, which thereby becomes its 5% partner in the Renaissance oil joint venture in Nigeria. Eni is retaining its deepwater operations and its stake in Nigeria LNG, according to the company, which did not disclose the sale price.

Eni completed the sale on 26 October of Agip Energy and Natural Resources, its subsidiary that held a 5% stake in the Renaissance onshore oil joint venture in Nigeria, to Apex Global Energy, according to the Italian group. The transaction price was not disclosed.

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