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Ithaca Energy acquires Eni’s UK assets in £754m deal

Ithaca Energy has finalised an agreement to purchase the majority of Eni's UK-based oil and gas producing assets for approximately £754 million in stock

Ithaca Energy has acquired most of Eni’s UK-based oil and gas assets, valued at £754 million in stock.

This deal aims to strengthen Ithaca Energy’s presence in the North Sea energy sector.

The acquisition is expected to expand its operations and increase production capacity to over 100,000 barrels of oil equivalent per day.

Ithaca Energy plans to distribute dividends of up to $500 million (£401m) to shareholders in 2024 and 2025.

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