Shell Petroleum completes sale of OML 29 & NCTL in Nigeria (Scandinavian Oil-Gas Magazine)

Skip Navigation

News
Financial
Oil
Gas
Rigs
- Rig supplier news
- Rig market
Alternative Energy
- Biofuels
- Wind
- Water
- Solar
By Province
- North Sea Rim
- Russia
- Africa
- Americas onshore
  - Latin America
  - Canada
  - USA
- Americas offshore
- Middle East
- Asia-Pacific
- Australia
Events
Printed Magazine
- Subscription
Mediaplan
Members page
- E-mail Alert

Shell Petroleum completes sale of OML 29 & NCTL in Nigeria

Published Mar 27, 2015

E-mail

[an error occurred while processing this directive]

Edit page New page Hide edit links

The Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell plc (Shell), has completed the assignment of its interest in oil mining lease (OML) 29 and the Nembe Creek Trunk Line (OML29 and NCTL) and related facilities in the Eastern Niger Delta.

Its interests in OML29 and the Nembe Creek Trunk Line were assigned to Aiteo Eastern E&P Company Limited. Total cash proceeds for Shell amount to some $1.7 billion.

This divestment is part of the strategic review of SPDC's onshore portfolio and is in line with the Federal Government of Nigeria's aim of developing Nigerian companies in the country's upstream oil and gas business.

Tags: Shell

Related links

Shell Petroleum completes sale of oil mining lease 18 in Nigeria

Advertisment:

Comments on this page are closed.

+ Larger Font | + Smaller Font

Top Stories

New Chief Executive Officer of Aker Energy Feb 23, 2018 Jan Arve Haugan has been appointed as Chief Executive Officer of the newly established oil company Aker Energy, effective 1 March 2018. Haugan is currently the President & CEO of Kværner ASA.

Rystad Energy - Borr Drilling takes charge of the jackup market

Borr Drilling Goes From Empty-Handed to the Largest Jack-Up Driller In Just 16 Months Feb 23, 2018 “It is remarkable what Tor Olav Troim has achieved in such a short amount of time. Going from two jack-ups in December 2016 to becoming the largest jack-up provider...” says Oddmund Føre, vice president of oilfield service research at Rystad Energy.

Borr Drilling Takes Over Paragon Offshore to Expand MODU Fleet Feb 23, 2018 Borr Drilling’s acquistion of Paragon Offshore will create a USD 3.57 billion MODU fleet.

Southwest Research Institute (SwRI) - IMSF2

SwRI to Host Inaugural International Multiphase Flow Separation Symposium Feb 23, 2018 Southwest Research Institute is bringing together oil and gas industry experts for the International Multiphase Flow Separation Symposium (IMFS²), to be held April 25-26, 2018, at SwRI’s headquarters...