Petroleum Africa
Find us on: 
Monday, July 30, 2018
Shell is in talks with Nigerian indigenous firm, Heirs Holding, in connection with the sale of its OML 11 and OML 17. According to a report from The Financial Times, the assets are worth an estimated $2 billion.
The assets also include transportation infrastructure and a natural gas-fired power plant that would be managed by Transnational Corp. of Nigeria. This divestment, if concluded, will reduce Shell’s presence in the country, particularly in the Niger Delta where it is one of the largest oil and gas producing companies.
For the past 10 years, Shell has sold billions of dollars in assets to the region because of local opposition, conflict with civilians, attacks by armed militants and accusations of pollution.
After the conclusion of the sale, Shell plans to focus on deep waters where the risks of attacks on infrastructure and theft are relatively low.
" alt="Sintana to Expand Asset Base in Namibia with Acquisition">
" alt="Luanda Gives Afentra Nod for Azule Acquisition">
" alt="TotalEnergies Increases Stake in ROC’s Giant Moho Field and Sells Mature Assets">
" alt="Africa’s $824 Billion Debt Burden and Opaque Resource-Backed Loans Hinder its Potential">
" alt="African Refiners Ponder Threats to Energy Security for Africa as Transition Takes Center Stage">
" alt="Invictus Inks Gas Sales MOU to Deliver Power to Eureka Gold Mine">
" alt="Globeleq Acquires the 25 MWp Winnergy Solar PV Plant in Egypt">
" alt="Sintana Completes Well Testing at Mopane 1-X in Namibia">
