After about 20 years of operations in Pakistan, Italy’s Eni SpA is mulling to sell its energy exploration and production assets in the country, Bloomberg reported citing sources.
Eni is working with a financial adviser to gauge interest in the portfolio, said people who asked not to be identified as the information isn’t public.
According to Bloomberg, the disposal includes Eni’s producing assets in Bhit, Badhra and Kadanwari, as well as its processing facilities and several non-operating assets. It includes four exploration leases and eight development and production leases.
As of 2019, Eni produces 37 billion cubic feet of natural gas annually in Pakistan, according to its website. The company in 2019 opened a photovoltaic plant there, which will produce about 20 gigawatt-hours per year, the website shows.
A representative for Eni declined to comment.
The proposed sale would mark Eni’s exit from Pakistan as the South Asian nation’s domestic gas production has plateaued in recent years. It is also joining other energy giants in selling assets in the country.
In 2018, OMV AG sold its upstream companies in the country to Hong Kong-based United Energy Group Ltd for 158 million euros.
It’s a sinking ship, mullah’s are a powerful force and want to take country back in time by 1000 years so will be wise for every country but China to get out
At least Pakistan is not racist and extremist like Indian hindus who are killing people because of their religion. Secondly india is a also a sinking ship see your dept first before speaking about any other country
Well said 👍
Foreign investor will also leave India very soon because of fragmentation in Indian society due to the RSS agenda of Hindutva, killing all minorities and lower cast Hindus. Upper Cast terrorists have not even spared Hindu state NEPAL.
That’s funny Salim sahib, IMIM is in same category as RSS, both are as human as pigs.
Titanic was also running fast like Endians but sank soon. After getting thrashing from Pakistan last and now from China, Endians have lost their mental balance. They are going to lose rest of it soon.
Stop drinking urine of a cow , it will make you coward.
Cow’ is better than CAMEL URIN.
@praful, how is it possible that racist indian not talking abt pak country, indian maniac
Shifting is a healthy process for any business. This is natural and there no room for doubts. Some people take such movement to spread misinformation to creat uncertainty to serve their ego’s. Such is Indian mentality when it comes to criticise Pakistan. SHORT MINDEDNESS.
Shamful racist ,Chai wal Modi was playing tricks with USA ,Russia ,Israil and UAE is now Shamfully csught up and have surrendered to China in Ladakh.Time is not far when Kashmiri people will take revenge from two murderers namely Modi and Amit Shah.How disgraceful it is for Modi that not a single country has even sympathized with the coward dead.Even Little Nepal is showing eyes to so called dictatorial Democracy.
Pakistan is very saintly, rest of the world is murderers. Buy spectacals. You are biased half blind.
Business shifts in routine , part of the style .
Cow’ is better than CAMEL URIN.