Nigeria and Mozambique: Eni Shifts Focus and Celebrates LNG Milestone 🎉
Eni, Italy’s energy giant, has closed the chapter on its onshore oil and gas activities in Nigeria by divesting its assets but remains committed to the country’s hydrocarbon sector through deepwater and LNG ventures. In Mozambique, Eni’s floating LNG (FLNG) unit reached a production milestone of 5 million tons of LNG, demonstrating its significant offshore capabilities.
Key Highlights:
âš« Eni completed the divestment of its onshore assets, selling Nigerian Agip Oil Company Ltd (NAOC) to Oando, a local energy provider. This move aligns with Eni’s strategy to streamline its portfolio and focus on more strategic assets.
âš«Despite the onshore exit, Eni retains a 5% stake in the Shell Production Development Company Joint Venture (SPDC) and will continue investing in Nigeria’s deepwater projects and LNG opportunities.
âš«Eni’s FLNG unit off Mozambique’s coast has reached 5 million tons of LNG production, marking a significant achievement for the company in Africa.