Sector News

Shell completes sale of OML 18 oil field stake in Nigeria

March 20, 2015
News
(Reuters) – Royal Dutch Shell said on Friday it had completed the sale of its stake in a Nigerian oil field for $737 million as the Anglo-Dutch oil major nears the completion of a strategic asset review in the West African country.
 
Oil and Mining Lease (OML) 18 and “related facilities in the Eastern Niger Delta” were sold to Eroton Exploration & Production Company Limited.
 
Eroton also acquired French oil major Total’s 10 percent stake and Italy’s Eni’s 5 percent stake in OML 18, giving it a total 45 percent holding, Shell said in a statement.
 
OML 18 produced around 14,000 barrels of oil equivalent per day in 2014.
 
Shell announced last October that it had signed sales agreements for all five Nigerian oil assets it put up for sale following a 2013 review of its business in Nigeria.
 
The Anglo-Dutch company completed the sale of OML 24 in November.
 

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

August 23, 2019

The higher purpose of being a CEO

Borderless Leadership

LinkedIn Twitter Xing EmailWhen I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon […]

August 23, 2019

As Brexit nears, Britain’s drugs, devices and pricing regulators seek the exit

Life sciences

LinkedIn Twitter Xing EmailFirm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing […]

August 23, 2019

The Simply Good Foods Company acquires Quest Nutrition for $1bn

Food & Drink

LinkedIn Twitter Xing EmailThe Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which […]

Send this to a friend