Eni collects $1 billion from the sale of its assets in Alaska – 04/11/2024 at 10:23

The Italian hydrocarbon giant Eni announced Monday that it had collected $1 billion from the sale of 100% of its Nikaitchuq and Oooguruk oil fields off the coast of Alaska to the American oil group Hilcorp.

The transaction is in line with Eni’s strategy which aims to rationalize its “upstream” activities (production and exploration) “by rebalancing its portfolio and selling non-strategic assets”, indicates the group in a press release.

The operation received “the approval of all competent authorities”, allowing Eni to finalize it.

As part of its strategic plan, Eni committed to selling assets for an amount of 8 billion euros over the period 2024-27.

Taking into account the transactions carried out and the operations in progress, Eni now plans to achieve this objective during the year 2025, “in less than two years”.

In October, Eni signed an agreement to sell a 25% stake in Enilive, its subsidiary specializing in biorefining, to the American investment fund KKR for 2.9 billion euros.

The Italian group saw its net profit plunge by 73% to 522 million euros in the third quarter, due to the fall in oil prices.