Petroleum Africa
Find us on: 
Monday, March 31, 2014
The sale of Shell’s four biggest assets in Nigeria has resulted in a number of firms’ names being batted about as contenders for the buy. The most recent reports have two Nigerian firms, Taleveras and Aiteo, coming in as the highest bidders.
Taleveras Group is an African firm, privately owned, with business interests in energy and infrastructure, oil and gas exploration, production, trading and supply, power and construction. Aiteo was founded in 1999 originally as a downstream company called Sigmund Communnecci Ltd., but since has changed its name and evolved into an integrated energy company.
While there has been no comment from Shell on any of the contenders, Reuters cited industry sources as saying Taleveras and Aiteo submitted a bid of $2.85 billion for the assets. Those sources also said that Shell was holding out to try and get the two firms to team up on the bid with another Nigerian firm, Seplat. Seplat was part of a group that won another set of Shell’s assets in 2010 and has done a stupendous job on those assets, increasing production substantially.
“Taleveras is resisting because it wants the block for itself, not in partnership with Seplat,” one source said. Shell faces a dilemma; sit tight and try to force a marriage between Seplat and the other two, or dispose of the block and face the criticism that it did not do so to a proper operator, according to the Reuters report.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
