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Italy's Eni sells Nigerian unit AENR to APEX

By Reuters News

MILAN, Oct 26 (Reuters) - Eni ENI.MI has completed the sale of its Nigerian unit Agip Energy and Natural Resources (AENR) to the Nigerian firm APEX, the Italian group said on Monday.

  • AENR is engaged in onshore and shallow water hydrocarbon exploration and production in Nigeria

  • It holds a 5% stake in Renaissance joint venture, in which TotalEnergies TTEF.PA and the Nigerian National Petroleum Company are also present

  • APEX is wholly owned by Nigeria's Sterling, a leading onshore oil operator

  • The deal is part of Eni's strategy to divest from oil and gas assets no longer considered strategic

  • Eni's bigger rival Shell SHEL.L said this month that it would sell its Nigeria domestic gas business to Vaaris Energy

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