Eni Sells Indonesia Upstream Assets to Pertamina and Medco
Eni has agreed to sell its 10% stakes in seven upstream production-sharing contracts in Indonesia to state-owned energy company Pertamina and private firm Medco. The deal involves assets across the East Sepinggan, North Kupang, and other fields but financial terms were not disclosed. The transaction is part of Eni's strategy to divest non-core assets and focus on higher-potential regions in its global portfolio. Indonesia’s energy sector has seen increased interest from domestic players seeking to expand their upstream presence amid growing regional demand for oil and gas resources. This move reflects broader industry trends where international oil companies are restructuring portfolios, often transferring stakes back to local partners.
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Topics: energy international business oil & gas