Sterling Oil Exploration and Energy Production Company, led by Indian industrialists Nitin Sandesara and Chetan Sandesara, has achieved a major achievement in the global energy sector. Apex Global Energy Limited, a subsidiary of the company, has completed the acquisition of Agip Energy and Natural Resources (AENR), the Nigerian subsidiary of Italian energy giant ENI. About 600 million dollars ie Rs. The 5,700 crore deal has received all regulatory approvals. The special thing is that Sterling Oil is a completely family-owned and debt-free company. Sandesara Brothers, operating in Nigeria's oil sector since 2006, has registered a strong presence of the Indian industry in the international energy market with this acquisition. Italian energy giant Annie has completed the sale of its Nigerian subsidiary, AGIP Energy and Natural Resources (Nigeria) Limited (AENR), which is wholly owned by Sterling Oil Exploration and Energy Production Company Limited. Annie disclosed the transaction in a statement issued on Monday, October 26, 2026, describing Sterling Oil as one of the leading onshore operators in Nigeria. The transaction is another milestone in the gradual transfer of Nigerian onshore oil assets from International Oil Companies (IOCs) to indigenous operators. Annie has announced that it has completed the sale of its subsidiary AGIP Energy and Natural Resources (Nigeria) Limited, a wholly owned subsidiary of Sterling Oil Exploration and Energy Production Company Limited, one of Nigeria's leading operators in the onshore sector.
Sandesara Bros. Global Leap: Rs. 5,700 crore acquisition of ENI's Nigerian subsidiary (News) is featured on Aapnu Amdavad — the digital home of Ahmedabad, where Amdavadis discover news and everything happening across the city.