26 July 2013, Comments Comments Off on Eni completes stake sale in Mozambique assets

 

Italian oil and gas group Eni said on Friday it had completed the sale of 28.57% of Eni East Africa to China‘s CNPC at a previously agreed price of $4.21-billion.

Eni East Africa holds 70% in the Area 4 gas field off the coast of Mozambique, it said in a statement. The deal was first announced in March.

Following the transaction, CNPC holds an indirect stake in Area 4 of 20%. Eni has 50%, while other partners in the project are Mozambique‘s ENH, Kogas and Galp Energia with 10% each.

Ref : http://www.engineeringnews.co.za/article/eni-completes-stake-sale-in-mozambique-assets-2013-07-26