Eni buys Heritage Uganda assets for up to $1.5bn
Issue 175
- 27 Nov 2009
| 3 minute read
Heritage Oil has entered into a letter of intent with Eni for the sale of its 50% interests in Uganda blocks 1 and 3A, and at the same time terminated merger talks with Turkey’s Genel Energy. The amount comprises cash of $1.35bn and a deferred consideration of $150m in cash or an interest in a mutually agreed producing field.
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