Eni to Sell All Upstream Operations in Pakistan

Source Press Release
Company The Hub Power Company Ltd.ENIPrime International Oil&Gas Company 
Tags Corporate Deals, Deals, Renewable Energy, Power, Upstream Activities
Date March 08, 2021

In accordance with the applicable provisions of section 96 of the Securities Act, 201 5 and Rule 5.6.1. (a) of the PSX Rule Book, we hereby inform you that Hub Power Holdings Limited (“Company”), a wholly owned subsidiary of The Hub Power Company Limited (“Hubco”) together with ENI’s local employees (in a 50:50 joint venture) has executed definitive agreements to acquire all the upstream operations in Pakistan of Eni and renewable energy assets owned by  Eni in Pakistan. By way of background.  Eni is a global energy company, which has been operating in Pakistan since the year 2000 in the Exploration & Production Sector.

The above transaction is subject to requisite compliance(s) with applicable legal and regulatory processes and approval from competent authorities.

We will keep you informed about further progress in this regard.

You are requested to disseminate information to the Members ofthe Exchange accordingly. Thank you.

Yours truly

Sohail Kassamali

Company Secretary

CC: The Executive Director, Corporate Supervision Department SECP. Islarnabad.

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