Oando PLC has finalized its acquisition of the Nigerian Agip Oil Company (NAOC) from Italian energy giant Eni, with the total transaction valued at $783 million.
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In a press release, Oando confirmed that the deal has been successfully completed, marking a major milestone in the company’s strategic vision.
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The transaction encompasses both reimbursement and payment for the asset.
This acquisition is anticipated to strengthen Oando’s presence in Nigeria’s oil and gas industry, broadening its operational reach and enhancing its upstream capabilities.
