Eni, through its subsidiary Nigeria Agip Exploration Limited (NAE), announces the acquisition from TotalEnergies EP Nigeria Limited (TotalEnergies) of an additional 2.5% stake in the Production Sharing Contract (PSC) OML 118, exercising its pre-emption right.

OML 118 is an offshore Nigerian license that includes Bonga producing field, in which NAE holds non-operating interests.

Following the transaction, which has received all necessary regulatory approvals, NAE's share in OML 118 PSC increased from 12.5% to 15%. This acquisition is fully aligned with Eni’s strategy to optimize its upstream portfolio and further strengthens the Company’s commitment to deepwater projects in the country.

Eni has been present in Nigeria since 1962, with an average equity production of 50 Kboed in 2025.

About Eni

Eni is a global energy tech company operating in 64 Countries, with about 32,500 employees. Originally an oil & gas company, it has evolved into an integrated energy company, playing a key role in ensuring energy security and leading the energy transition. Eni's goal is to achieve carbon neutrality by 2050 through the decarbonization of its processes and of the products it sells to its customers.
In line with this goal, Eni invests in the research and development of technologies that can accelerate the transition to increasingly sustainable energy. Renewable energy sources, bio-refining, carbon capture and storage are only some examples of Eni's areas of activity and research. In addition, the company is exploring game-changing technologies such as fusion energy - a technology based on the physical processes that power stars and that could generate safe, virtually limitless energy with zero emissions.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.