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LequteMan
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Nigeria - Oil major Royal Dutch Shell Plc has completed the sale of its stake in Oil Mining Lease (OML) 29 and the Nembe Creek Trunk Line (NCTL) in the Eastern Niger Delta to Aiteo Eastern E&P Co Ltd for about $1.7 billion, Reuters reports.
Total and Eni's Nigerian arms also assigned their interests of 10 percent and 5 percent, respectively, to Aiteo, which ended up with a 45 percent interest in total for both assets.
Shell decided to sell five Nigerian oil assets after a 2013 review of its business in the West African country.
Last October, Shell announced that it had signed sales agreements for all of these assets, which included 30 percent stakes in OMLs 18, 24, 25, 29 and the NCTL, Nigeria's main onshore pipeline.
#Nigeria #Shell #ENi #Nembe #Total
Total and Eni's Nigerian arms also assigned their interests of 10 percent and 5 percent, respectively, to Aiteo, which ended up with a 45 percent interest in total for both assets.
Shell decided to sell five Nigerian oil assets after a 2013 review of its business in the West African country.
Last October, Shell announced that it had signed sales agreements for all of these assets, which included 30 percent stakes in OMLs 18, 24, 25, 29 and the NCTL, Nigeria's main onshore pipeline.
#Nigeria #Shell #ENi #Nembe #Total
