Key highlights
Transaction Details
Eni, through its subsidiary Nigeria Agip Exploration Limited (NAE), has acquired an additional 2.5% stake in the Production Sharing Contract (PSC) OML 118 from TotalEnergies EP Nigeria Limited. This acquisition was made by exercising its pre-emption right.
OML 118 Overview
OML 118 is an offshore Nigerian license that includes the Bonga producing field, where NAE holds non-operating interests. Following the transaction, NAE's share in OML 118 PSC increased from 12.5% to 15%.
Regulatory Approvals
The transaction has received all necessary regulatory approvals, ensuring compliance with local and international regulations.
Eni's Presence in Nigeria
Eni has been active in Nigeria since 1962, with an average equity production of 50 Kboed in 2025.
