Eni Sells Alaska Assets to Hilcorp in $1 Billion Deal

MILAN – On Monday, Eni (NYSE: E), the Italian energy group, said it pocketed $1 billion from a planned sale of the Nikaitchuq and Oooguruk upstream offshore assets in Alaska to U.S. private company Hilcorp.

Eni disclosed the deal value in a statement announcing its finalization of the sale.

Under its business plan, Eni aims to raise 8 billion euros in net proceeds in the 2024-2027 period by selling upstream assets, reducing ownership in its main exploration discoveries, and tapping new investors to fund the growth of its low-carbon units.

“Considering completed deals and actions in progress Eni now expects to substantially achieve the target by 2025, in less than two years,” the group said in the statement on Monday.

(Source: Reuters)

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