ROME: Italy’s Eni said on Thursday it had signed a binding agreement to sell Nikaitchuq and Oooguruk upstream assets it owns in Alaska to US private company Hilcorp. The value of transaction will be announced at closing, the Italian energy group said.

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“This transaction is consistent with Eni’s strategy focused on the rationalization of the upstream activities by rebalancing its portfolio and divesting non-strategic assets,” it added in a statement.