Italian global energy firm Eni has announced a $1.65 billion deal to sell part of its stakes in oil and gas assets in the Ivory Coast and the Republic of Congo.
As part of the deal, energy and commodity trading firm Vitol will acquire a 30% stake in Eni’s 77.25% interest in the Baleine field in Ivory Coast. Vitol will also acquire a 25% participating stake in Eni’s 65% share of the Congo LNG project in the Republic of Congo.
The deal includes producing assets as well as blocks under exploration, appraisal and development.
Existing collaboration between Eni and Vitol in West Africa includes in the OCTP and Block 4 projects in Ghana.
