Nigeria: Shell Assets Sold to Seplat Petroleum
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Tuesday, 02 February 2010 |
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The Shell Petroleum Development Company of Nigeria Limited (SPDC) has
agreed to transfer its interest in three production licences and
related equipment in the Niger Delta to a consortium led by two
Nigerian companies.
“This sale of assets supports the Nigerian government’s goal of
expanding opportunities for local energy companies”, said Mutiu
Sunmonu, Managing Director SPDC. “We have been in Nigeria for more than
50 years and remain committed to doing business here. This transaction
should be seen in the context of Shell’s active portfolio
management of its assets and interests across the world.”
The agreement covers Shell’s 30% interest in oil mining leases 4, 38
and 41 covering approximately 2,650 square kilometres in the north
western Niger Delta. The buyer is Seplat Petroleum Company
Limited, a Nigerian company jointly held by two Nigerian firms,
Platform Petroleum Limited and Shebah Petroleum Development Company
Ltd, along with Maurel & Prom of France. The agreement is subject
to the approval of the Federal Government of Nigeria and the national
oil company, the Nigerian National Petroleum Corporation (NNPC).
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