Italy’s oil major Eni has reportedly hired investment bank Citi to sell its natural gas assets in Australia, with the sale process to be launched this week.
Citing unnamed sources, Reuters reported on Friday such deal could raise up to $1 billion. According to the report, it hasn’t been decided whether Eni’s Katherine solar project would be included in the two-round sale.
Eni’s assets in Australia include 100% ownership and operatorship of the Blacktip Gas project – which has a long-term gas supply agreement in place –, stakes in the Bayu-Undan gas and condensate field, and it the Darwin LNG plant, Kallanish Energy notes.
According to Eni’s latest published data (2018), its Australian assets produce around 1.2 billion cubic meter per year of natural gas, and 1 million barrels per year of oil and condensate.
Neither Eni nor Citi commented the matter.
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