Lagos - Oil India Ltd. (OINL), India’s second-biggest state-run oil company, is analysing the possibility of acquiring a stake in Shell’s Nigerian onshore oil assets, which have been placed on the market for a combined offer of $2 billion.
The company, which recently acquired a 10 percent stake in Mozambique’s gas field wants to use the Shell’s acquisition to boost and strengthen its presence in Africa’s oil industry, reports BusinessDay.
The company will partner with India’s Sandesara Group on the potential purchase.
Oil India joins the growing list of companies that have indicated interest in acquiring the Nigerian oil and gas assets owned by Royal Dutch Shell. Dangote Group and Seplat Petroleum Development Co. are also in the list.
Read more at BusinessDay.
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