Lagos - Aliko Dangote's quest of becoming one of the biggest players in the oil and gas sector of the company is becoming a reality as one of his companies is in the process of acquiring a stake in a Nigerian gas field owned by Shell.
Dangote Industries has submitted the highest offer for Shell’s stake in Oil Mining Lease (OML) 18 at an auction organized by Shell Petroleum, reports PM News.
The price offered by Dangote Industries and the exact stake the company is looking to acquire weren’t immediately known.
Dangote has been eyeing a stake in Shell for a long time. In 2010 Dangote put in a bid for a 45% stake in Shell’s OML 30, but lost his bid to Conoil Producing, an exploration company owned by Mike Adenuga.
Read more at PM News.
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