Eni sells Perenco assets in Congo for $300 mln

Eni sells assets in Congo to Perenco for $300 mln

BRAZZAVILLE, June 28, 2023 – Eni has sold several permits in the Republic of Congo to European independent Perenco for USD 300 million, the Italian energy giant announced on Tuesday.

Specific assets were not disclosed.

The deal is subject to local regulatory authorisations.

Eni has been active in the Republic of Congo for more than 50 years and highlighted its continued commitment to developing the country’s gas resources, in particular the Congo LNG project.

In April 2023, Eni laid the foundation stone for the Congo LNG project, the country’s first LNG project.

Gas for the development will be sourced from the offshore Marine XII concession and produced via the installation of two FLNGs at the producing Nenè and Litchendjili fields.

When complete, the project will have a production capacity of 3 million tonnes per year.

The project’s second FLNG is expected to come on line in 2025.

The deal follows Eni and partner Vår Energi have acquiring UK-headquartered Neptune Energy for USD 4.9 billion in June 2023.

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