26 July 2013
Details
ENI and China National Petroleum Corporation (CNPC)
have concluded Eni's sale to CNPC of
28.57% of Eni East Africa's shares,
owner of a 70 % interest in Area 4,
located off the coast of Mozambique.
The deal worths US$ 4,210 millions.
Through this deal, CNPC acquires a stake in Eni East Africa
which equates to a 20 % indirect participation in Area 4,
Eni remains the indirect owner of
the 50 % participation owned by Eni East Africa.
The remaining in Area 4 are held by
* Empresa Nacional de Hidrocarbonetos de Mozamique (ENH, 10 %),
* Kogas (10 %) and
* Galp Energia (10 %)
CNPC's entrance into Area 4 is strategically significant
for the project because of the worldwide importance of
the company in the upstream and downstream sectors.
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