Eni banks on gas for transition future
The Italian major continues to reorientate its portfolio to focus on gas
Italy’s Eni has pursued an aggressive policy of portfolio optimisation recently, with a deal to acquire most of UK independent Neptune Energy and divestments in Congo-Brazzaville now being followed by the significant acquisition of Chevron’s Indonesian assets. The Chevron portfolio includes operatorship and majority stakes in the Ganal (62%), Rapak (62%) and Makassar Straits production-sharing contracts in the Kutei Basin, off East Kalimantan. Eni already had 20% stakes in the Ganal and Rapak blocks, so the deal is “an excellent fit”, the company said, adding the Neptune deal also included Indonesian assets. Eni stated that the Chevron deal “is an important step... to fast track the developm
![](/images/white-fade.png)
Also in this section
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised