Eni: sale of upstream assets in Alaska to Hilcorp completed

Eni has finalized the sale of its 100% stake in the Nikaitchuq and Oooguruk assets in Alaska to Hilcorp for $1 billion. The transaction, approved by all necessary authorities, aligns with Eni’s strategy to streamline its upstream operations by rebalancing its portfolio and divesting non-core assets.

This sale supports Eni’s growth-focused strategy, aiming for €8 billion in net portfolio inflow under its 2024-27 Plan. With completed transactions and initiatives underway, Eni now expects to reach this goal by 2025, two years ahead of schedule. Revenue will primarily come from optimizing the upstream portfolio, reducing high equity ownership in exploration, and tapping new capital through Eni’s satellite strategy to drive growth in its energy transition businesses, supporting value creation.

Eni will retain a U.S. presence in the Gulf of Mexico’s upstream sector and in energy transition projects in renewables, biofuels, and magnetic fusion.