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You Are Here: Home » Africa/International » Eni to pay over $1.5b for Heritage Oil’s stake in Uganda
Heritage Oil Plc will sell its fields in Uganda to Eni SpA of Italy for more than $1.5 billion, the London-based Sunday Times said, without saying where it got the information from.
Heritage will pay a special dividend of between 90 pence and 100 pence per share as part of the deal, which could be announced as soon as tomorrow, the newspaper said. Heritage shares the fields with Tullow Oil Plc, the newspaper reported.
Heritage and Eni declined to comment, the newspaper said. Tullow Chief Executive Officer Aidan Heavey said potential new partners include unidentified “Chinese and major oil companies,” the newspaper reported.
Source: Bloomberg
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