Eni's Sale of NAOC to Oando

- *Approval Received*: Eni has received approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to sell its unit, Nigerian Agip Oil Company (NAOC), to Oando.
- *NAOC's Focus*: NAOC focuses on onshore oil and gas exploration and production, as well as power generation in Nigeria.
- *Transaction Details*: The transaction involves the sale of NAOC Ltd, Eni's wholly-owned subsidiary, to Oando PLC, Nigeria's leading national energy solutions provider.
- *Exclusions*: NAOC's participating interest in SPDC JV (Shell Production Development Company Joint Venture) is not included in the transaction and will be retained in Eni's portfolio.
- *Eni's Commitment*: Eni remains committed to Nigeria through investments in deepwater projects and Nigeria LNG, and is developing plans for economic diversification in the country.