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LequteMan
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Chevron Nigeria Limited on Friday formally completed the transfer of producing assets in three oil mining leases to three indigenous oil companies.
Chevron is the operator of the Nigerian National Petroleum Corporation (NNPC)/CNL joint venture.
Chevron had since November 2013, signed a sales and purchase agreement with Seplat Consortium, comprising Seplat, Amni International Petroleum Development Company Limited, and Delta State-owned Belema Oil for the sale of its interests in OMLs 52, 53 and 55.
However the formal transfer of the assets was stalled following a dispute by Britannia-U Nigeria Limited, which claimed it out-bided other firms during the bid exercise.
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Chevron is the operator of the Nigerian National Petroleum Corporation (NNPC)/CNL joint venture.
Chevron had since November 2013, signed a sales and purchase agreement with Seplat Consortium, comprising Seplat, Amni International Petroleum Development Company Limited, and Delta State-owned Belema Oil for the sale of its interests in OMLs 52, 53 and 55.
However the formal transfer of the assets was stalled following a dispute by Britannia-U Nigeria Limited, which claimed it out-bided other firms during the bid exercise.
Read full story
