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Eni (NYSE:E) said Thursday it agreed to sell its Nikaitchuq and Oooguruk upstream offshore assets in Alaska to privately-held Hilcorp for an undisclosed sum.
Eni (E) said it will disclose the value of the deal upon closing, but Reuters estimates potential proceeds in the $428M-$855M range with one source pointing to the high end.
Eni (E) has said it is seeking to raise €8B (~$8.5B) in net proceeds in the 2024-27 period, in part by selling upstream assets and reducing ownership in its main exploration discoveries.
The sale “can have positive implications for the stock as it would make it possible to realize the net divestment target for this year together with the disposal of Saipem’s stake,” Italian broker Equita said.