Eni’s withdrawal from Pakistan aligns to the company's broader strategy of reshaping and simplifying its portfolio, extracting additional value from its strategic assets and disposing of non-core businesses as per its four-year strategic plan.
The operator on Tuesday reached agreement to sell its Pakistan assets to Prime International - a newly established company formed by a team of Eni’s local ex-employees and Hub Power Company, Pakistan’s largest independent power producer (IPP).
The novel company will acquire assets from Eni including interests in eight development and production leases in the Kirthar fold belt and the Middle Indus basins and four exploration licences in the Middle Indus and the Indus offshore basins.