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Eni completes stake sale in Mozambique assets

26th July 2013

By: Reuters

  

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Italian oil and gas group Eni said on Friday it had completed the sale of 28.57% of Eni East Africa to China's CNPC at a previously agreed price of $4.21-billion.

Eni East Africa holds 70% in the Area 4 gas field off the coast of Mozambique, it said in a statement. The deal was first announced in March.

Following the transaction, CNPC holds an indirect stake in Area 4 of 20%. Eni has 50%, while other partners in the project are Mozambique's ENH, Kogas and Galp Energia with 10% each.

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Edited by Reuters

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