CNPC enters deepwater concession offshore Mozambique

Eni has concluded its sale to China’s CNPC of 28.57% of Eni East Africa’s shares.

Offshore staff

SAN DONATO MILANESE, Italy – Eni has concluded its sale to China’s CNPC of 28.57% of Eni East Africa’s shares. The company’s assets include a 70% interest in Area 4 offshore Mozambique.

The deal is valued at $4.21 billion and gives CNPC a 20% indirect participation in Area 4. Eni remains indirect owner of the 50% participation owned by Eni East Africa.

Other participants in Area 4 are Empresa Nacional de Hidrocarbonetos de Mozambique (ENH, 10%), Kogas (10%), and Galp Energia (10%).

7/31/2013

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