Eni considers spinning off oil and gas assets in Africa and Middle East
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Eni is reportedly looking to spin off its oil and gas assets in West Africa and the Middle East into new joint ventures.
The move is part of the Italian company’s plan to cut debt and fund its plan to transition towards low-carbon energy, Reuters reported, citing the company and industry sources.
Eni intends to replicate its 2019 decision to spin off oil and gas assets in Norway. It formed a joint venture, Var Energi, which it retains a 69.6% stake.