Italian vitality large Eni has accomplished the sale of its Nigerian subsidiary, Agip Energy and Natural Resources (Nigeria) Limited (AENR), to Apex Global Energy Limited, which is wholly owned by Sterling Oil Exploration and Energy Production Company Ltd.
This disclosure is contained in a press release Eni issued on Monday, October 26, 2026, noting that Sterling Oil is one of Nigeria’s main onshore operators.
The transaction marked one other milestone within the gradual switch of Nigerian onshore oil belongings from worldwide oil corporations (IOCs) to indigenous operators.
What they’re saying
It acknowledged that the transaction had obtained approval from all related authorities and aligned with Eni’s technique to optimise its upstream operations by rebalancing its portfolio and divesting non-core belongings.
- The assertion reads, ”Eni broadcasts that it has accomplished the sale of its subsidiary Agip Energy and Natural Resources (Nigeria) Limited to Apex Global Energy Limited, an organization wholly owned by Sterling Oil Exploration and Energy Production Company Ltd, one of Nigeria’s main operators within the onshore sector.
- ”The transaction, which has obtained approval from all related authorities, is in keeping with Eni’s technique to optimize its upstream actions by rebalancing the portfolio and divesting non-strategic belongings.”
Eni assured that it’s going to nonetheless proceed with its oil exploration and growth of deep offshore belongings in addition to go forward with its participation in Nigeria LNG.
- ”Eni will proceed to keep a presence within the nation by means of exploration and growth of deep offshore belongings in addition to by means of its participation in Nigeria LNG,” it added.
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