Government Plans to Introduce A New E-Passport Service from May
All upstream operations and renewable energy assets owned by Eni in Pakistan will be acquired by HUBCO and its wholly-owned subsidiary Hub Power Holdings Limited in a joint venture with local employees of ENI.
Hub Power Holdings Limited made an exclusive offer in conjunction with a 50/50 partnership of ENI’s local employees, according to the stock filing.
All of ENI’s upstream operations and renewable energy assets in Pakistan will be acquired by the company under legally binding agreements that have been signed.
Hub Power Holdings Limited is a 100% owned subsidiary of The Hub Power Company Limited (Hubco).
Since the year 2000, ENI, a multinational energy company, has been conducting business in Pakistan’s Exploration AND Production Sector.
As of 2019, ENI produced 37 billion cubic feet of natural gas annually in Pakistan, according to its website.
Read More: Rs 649.908 Million Released for 13 Petroleum Sector Projects
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