Eni announces the sale of its Pakistan assets to Prime International Oil&Gas Company

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.

Eni

We are an energy company. We concretely support a just energy transition, with the objective of preserving our planet and promoting an efficient and sustainable access to energy for all. Our work is based on passion and innovation, on our unique strengths and skills, on the equal dignity of each person, recognizing diversity as a key value for human development, on the responsibility, integrity and transparency of our actions. We believe in the value of long term partnerships with the countries and communities where we operate, bringing long-lasting prosperity for all.