Eni announces that it has achieved the closing for the sale to Hilcorp of 100% of the Nikaitchuq and Oooguruk assets owned in Alaska for a value of 1 billion USD.

The transaction, which received the approval of all relevant authorities, is in line with Eni’s strategy focused on the rationalization of the upstream activities by rebalancing its portfolio and divesting non-strategic assets.

Within Eni’s financial structure, supporting the Company’s distinctive growth-oriented strategy, Eni is committed to delivering a net €8 billion of net portfolio inflow over the 2024-27 Plan and considering completed deals and actions in progress Eni now expects to substantially achieve the target by 2025, in less than two years. Proceeds are anticipated to come from three main sources: high-grading the Upstream portfolio, diluting down high equity ownership exploration discoveries, and accessing new pools of capital via Eni’s satellite strategy to support the growth of its transition businesses while confirming progress in value creation.

Eni will continue to be present in the USA in the upstream of Gulf of Mexico as well as in energy transition projects in the renewables, biofuels and magnetic fusion.

About Eni

Eni (NYSE: E) is an integrated energy company employing more than 34.000 people in 69 countries in the world. Eni engages in oil and natural gas exploration, field development and production, as well as in the supply, trading and shipping of natural gas, LNG, electricity and fuels. Through refineries and chemical plants, Eni processes crude oil and other oil-based feedstock to produce fuels, lubricants and chemical products that are supplied to wholesalers or through retail networks or distributors.

About Hilcorp

Hilcorp is a privately held exploration and production company based in Houston, Texas. We were founded in 1989 and have since grown to become one of the largest independent oil and gas companies in the United States.