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Thursday, August 1, 2013
Shell plans to sell off some more of its onshore and/or near-shore acreage in Nigeria. A Reuters report has Nigeria’s number one foreign producer contemplating the sale of at least four more blocks.
Two of the bocks under consideration for sale are located in the region where Shell has experienced a significant amount of breaches in its pipeline facilities which has resulted in a number of spills and oil theft. The company has been in talks with the government to renew the other two blocks for a number of years but the two parties have been unable to come to terms.
Under Nigeria’s local content policy the blocks will most likely need to be sold to indigenous firms, at least in part.
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