Nigeria: Eni Completes Sale Of Subsidiary AENR To Apex

Italian energy group Eni has completed the sale of its Nigerian subsidiary, Agip Energy and Natural Resources (AENR), to Apex Global Energy, the company said on Monday.

Apex is wholly owned by Sterling Oil Exploration and Energy Production Company, an operator in Nigeria’s onshore oil sector.

AENR explores for and produces oil and gas in Nigeria’s onshore and shallow-water areas. It holds a 5% stake in a joint venture operated by Renaissance, which owns 30%.

Nigerian National Petroleum Company Limited holds 55%, while TotalEnergies owns 10%.

Eni said the transaction had received all required regulatory approvals and was part of its strategy to rebalance its upstream portfolio and sell non-core assets.

The company will retain a presence in Nigeria through deepwater exploration and development and its stake in Nigeria LNG.