(Alliance News) - Eni Spa announced Thursday that it has signed a binding agreement with Hilcorp, one of the largest private U.S. companies operating in Alaska, to sell 100 percent of the Nikaitchuq and Oooguruk assets held by Eni in Alaska.

The transaction is in line with Eni's strategy of optimizing upstream assets by rebalancing its portfolio and divesting non-strategic assets.

As part of Eni's financial framework to support its distinctive growth-oriented strategy, the company has committed to a net portfolio inflow of EUR8 billion, front-end loaded, over the 2024-27 plan. It expects the proceeds to come from three main sources: optimization of the Upstream portfolio, dilution of the high equity stake in exploration discoveries, and access to new pools of capital through the company's satellite strategy to support the growth of its transition-related businesses while confirming progress in value creation.

The closing of the transaction is subject to the approval of relevant local and regulatory authorities. The value of the transaction will be announced at the closing of the transaction.

Eni's stock is up 0.5 percent at EUR14.31 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.