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Eni To Buy Cadogan Ukraine Assets Stake

Italian oil and gas company, Eni, is seeking to acquire a stake in two Cadogan Petroleum licenses in Ukraine.

    Italian oil and gas company,Eni, is seeking to acquire a stake in twoCa dogan Petroleumlicenses in Ukraine,Reutersreports. Eni will pay $38 million initially and fund a $30 million work programme.

    The Rome-based company will get a 30% stake in the Pokrovskoe license, with an option to buy a further 30% interest, while it will acquire a 60% interest in the Zagoryanska license. The transaction is expected to be completed by the end of June.

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