Eni selling its stake in Nigeria's Renaissance JV

Eni SpA

04/05/2026 15:26

MILAN, May 4 (Reuters) - Eni ENI.MI is in the process of selling its 5% interest in the Renaissance joint venture in Nigeria, the Italian energy group said, adding the name of the prospective buyer and the value of the deal were confidential.

In written answers to questions posed by shareholders ahead of its annual shareholder meeting on May 6, Eni said the prospective buyer would be subject to a due diligence process which would include also an assessment of potential reputational risks.

Nigerian and foreign-owned energy companies have filed bids for Eni's stake in the joint venture - formerly Shell Petroleum Development Company JV - with Sterling Oil Exploration and Energy Production Company (SEEPCO) seen as a frontrunner, some media outlets reported earlier this year.

 (Reporting by Francesca Landini. Editing by Mark Potter)

 ((francesca.landini@thomsonreuters.com; +39 02 66129437; Reuters Messaging: reutersitaly.thomsonreuters@reuters.net))