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Shell divested from eight oil fields in five years

17 September 2014, 09:11

Lagos - Shell Petroleum Development Company of Nigeria (SPDC) has confirmed that it has divested from eight Oil Mining Leases (OMLs) in Nigeria from 2010 to date.

Shell Media Relations Manager, Precious Okolobo, said in Lagos that the SPDC had sold its interests in OML 4, 38 and 41.

Others are OML 26, 30, 31, 34, 40 42 and 40 .

The first set of oil fields sold by Shell were oil mining leases (OMLs) 4, 38 and 41 acquired and operated by Seplat Petroleum Development Company.

OMLs 26, 30, 34, 40 and 42 were acquired by Nigerian Petroleum Development Company (NPDC) which is also the operator.

Okolobo noted that SPDC is reviewing its operations in the Eastern Niger Delta, which could result in the divestment of some of its interests there.

Also read: Shell set to sell four oilfields for $5b

“The assets under consideration are OMLs 18, 24, 25, 29 and the Nembe Creek Trunk Line, but the process has not yet been concluded.

“We have signed Sales and Purchase Agreements for some of the Oil Mining Leases, but it is not all that we are seeking to divest.

“In the event of a successful completion of the sales process, we shall make a market announcement,’’ he said.

Okolobo said Nigeria remained an important part of Shell’s portfolio, "where we will continue to have a significant onshore presence in oil and gas, and which has clear growth potential, particularly in deep-water and onshore gas’’.

He said Shell had a history of over 50 years in Nigeria and remained committed to the country and to supporting the government of Nigeria in its plans for the oil and gas sector.

-      NAN


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