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Italy's Eni agrees to sell two Alaska upstream assets to Hilcorp
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Italy's Eni agrees to sell two Alaska upstream assets to Hilcorp
Jun 26, 2024 11:44 PM

ROME, June 27 (Reuters) - Italy's Eni said on

Thursday it had signed a binding agreement to sell its

Nikaitchuq and Oooguruk upstream offshore assets in Alaska to

U.S. private company Hilcorp.

The value of transaction will be announced at closing, the

Italian energy group said.

"This transaction is consistent with Eni's strategy focused

on the rationalisation of the upstream activities by rebalancing

its portfolio," it added in a statement.

Eni aims to raise 8 billion euros ($8.56 billion) in net

proceeds by the end of 2027 by selling upstream assets, reducing

ownership in exploration discoveries and tapping new investors

to fund the growth of its low-carbon units.

Eni acquired full control of the Oooguruk oilfield in

2019, when it bought from Caelus Natural Resources Alaska LLC

the 70% of the asset it did not already own.

The field, located in the Beaufort Sea approximately 5

kilometres off Alaska's North Slope coast, has been in

production since 2008.

The Nikaitchuq offshore oilfield is approximately 13

kilometres northeast of Oooguruk.

With these move Eni will significantly reduce its

presence in the region where it was mainly producing oil.

($1 = 0.9351 euros)

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