The Italian energy group Eni announced on Monday, September 4, that it had reached an agreement with the local company Oando to sell part of its portfolio of assets in Nigeria.

Several multinationals, including Shell and ExxonMobil, have embarked on a policy of reducing their oil and gas investments in Nigeria in recent months. The reason is the difficult context of the local hydrocarbon industry. Indeed, Eni's subsidiary in Nigeria is a company engaged in the exploration, production and distribution of oil and natural gas in the country.

ENI said in a statement that the proposed transaction with Oando exclusively concerns this entire asset portfolio, located on land. Eni thus holds participations in offshore areas that are not included in the transaction. The company intends to maintain its 5% stake in the Shell Production Development Company (SPDC) joint venture