Italian Eni Company signed an agreement to sell its shares in Pakistan entities to Prime International Oil & Gas Company, Eni announced on its website.
The agreement covered interests in eight development and production leases in the Kithar Fold Belt, the Middle Indus Basins, and four exploration concessions in the Middle Insud and the Indus Offshore Basins.
Eni’s main permits were in Bhit/Badhra with 40% of working interest, and Kadanwari with 18.42% of working interest. Other shares were in the permits of Latif with 33.3%, Zamzama with 17.75%, and Sawan with 23.7%.
This was a part of Eni’s four year strategic plan to reshape and simplify its portfolio, generating additional value from its strategic assets, and selling non-core businesses.