ENI Sells Gabon Assets to Perenco

Eni has signed an agreement with Perenco to sell its upstream oil and gas activities in Gabon consisting of its interests in the offshore producing Limande field and in three offshore exploration permits.

Eni 2003 equity production in the Limande field was 1800 barrels per day.

The divestiture forms part of Eni’s portfolio rationalization program aimed at further focusing the company's activity in strategic area with high growth potential.

The transaction is subject to customary regulatory approvals and completion is expected to occur by May 2004.