Shell Looks to Divest More Nigerian OMLs

Those companies looking for an acreage position onshore Nigeria may be able to pick up a stake in OMLs 30, 34, and 40. Shell is said to be working on selling off its interests in these OMLs as it looks to focus on deepwater Nigeria.

It is expected that a number of Nigerian firms will express an interest in these assets as they did in Shell’s previous divestment of OMLs 4, 38, and 41.

"SPDC (Shell Petroleum Development Corporation) is working towards the potential divestment of OMLs 30, 34 and 40," spokesman Tony Okonedo told Reuters. He declined to comment on any negotiations or whether an offer had already been made for them.

"We will continue to look at opportunities to rationalize our portfolio," he said. "This is not Shell leaving Nigeria but rather a refocusing aimed at strengthening our long-term position in country."