Eni to acquire 42.5% of BP’s stake in Libya
Italy’s ENI (ENI.MI) is set to acquire a 42.5 percent stake in BP’s (BP.L) Libya acreage, according to a statement on Monday.
The two companies, along with state-owned National Oil Corp, signed a letter of intent in London on Monday paving the way for the final deal, Reuters reported.
Under the deal, ENI will become operator of BP’s exploration and production sharing agreement (EPSA)in Libya, the statement said.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to email@example.com. Please include ‘Op-Ed’ in the subject line.
- Italy tussle for North Africa influence with competing visits - January 29, 2023
- Italy’s Eni signs gas production deal with Libya - January 29, 2023
- NOC: Selling oil alone can lead to corruption in Libya - January 25, 2023