Eni to Sell Pakistan Assets to Prime International Oil & Gas
March 09 2021 - 5:02AM
Dow Jones News
By Giulia Petroni
Eni SpA said Tuesday that it has signed an agreement to sell its
assets in Pakistan to Prime International Oil & Gas Co. for an
undisclosed sum.
The Italian oil-and-gas major said this includes interests in
eight development and production leases in the Kirthar Fold Belt
and the Middle Indus Basins, as well as four exploration licenses
in the Middle Indus and the Indus Offshore Basins.
The agreement is in line with Eni's plan to reshape and simplify
its portfolio as part of its strategy for 2021-24, the company
said.
Prime International Oil & Gas Co. is formed by former Eni's
local employees team in Pakistan and Hub Power Co., the largest
independent power producer in the country.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
March 09, 2021 04:47 ET (09:47 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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