Eni Permitted To Sell Part Of Stake In Offshore Area 4
News: Mozambique's government has permitted Italy's Eni to divest a part of its stake in the Area 4 natural gas field, reports Natural Gas Asia. Eni is the operator of the Area 4 with an indirect 50% participating interest. In 2013, the company sold a 20% interest in the field to CNPC for US$4bn. The company has appointed Bank of America Merrill Lynch for advising on the sale of a 15% stake in the field that is expected to raise up to US$5bn.