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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Eni Spa | BIT:ENI | Italy | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.048 | 0.32% | 14.828 | 14.81 | 14.85 | 14.864 | 14.784 | 14.822 | 11,414,328 | 17:00:00 |
From May 2019 to May 2024
By Max Bernhard
ENI SpA (ENI.MI) said Monday that it signed a farm-out agreement with Qatar Petroleum (QP.YY) that will give the Gulf state's oil-and-gas company a stake in a development offshore Mozambique.
Eni said the deal will enable Qatar Petroleum to acquire a 25.5% participating interest in Block A5-A, offshore Mozambique.
Eni is the operator of the Block A5-A Consortium, with a 59.5% stake, which would be reduced to 34% after the deal is approved, the company said. Other partners are Sasol Ltd (SOL.JO), with 25.5%, and Mozambican state-owned Empresa Nacional de Hidrocarbonetos, which holds 15%.
"Today's transaction represent another milestone in the strategic path that Eni and QP undertook to further strengthen their partnership worldwide," Eni CEO Claudio Descalzi said.
The agreement is subject to the approval of the Mozambican authorities.
Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard
(END) Dow Jones Newswires
March 11, 2019 11:14 ET (15:14 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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