Eni divests upstream assets in Alaska
Binding agreement signed with Hilcorp for the sale of 100 per cent of the Nikaitchuq and Oooguruk assets held by the group in the country
by Celestina Dominelli
1' min read
1' min read
Eni scores another divestment along the route indicated in its latest strategic plan. The group led by Claudio Descalzi announced that it has signed a binding agreement with Hilcorp, one of the largest private US companies operating in Alaska, for the sale of 100% of the Nikaitchuq and Oooguruk assets held in Alaska.
The strategy set out in the strategic plan
.The transaction, as mentioned, is part of the CEO's strategy to optimise upstream activities by rebalancing its portfolio and divesting non-strategic assets. The course indicated by the group is to realise a net portfolio inflow of EUR 8 billion, front-end loaded, over the 2024-27 plan period.
The three main tracks
.In order to hit the target, Eni has indicated three main tracks to reach the EUR 8 billion mark: optimisation of the upstream portfolio, dilution of the high shareholding in exploration discoveries, and access to new pools of capital through the company's satellite strategy (think Plenitude or Enilive and, in perspective, biochemicals and Ccs) to support the growth of its transition-related businesses, while confirming progress in value creation.
The Closing
.The closing of the transaction is subject to the approval of the relevant local and regulatory authorities. The value of the transaction will be communicated upon closing.
