By Michael Eboh, with Agency Report
Shell Petroleum Development Company, Wednesday, completed the sale of its 43,000 barrels of oil equivalent per day Oil Mining Lease (OML) 29 and the 600,000 barrels per day Nembe Creek Trunk Line (NCTL) in the Eastern Niger Delta to Aiteo Eastern Exploration &Production Company Limited for $1.7 billion, about N340 billion.
Shell, in a statement announcing the sale, said the divestment was part of the strategic review of its onshore portfolio.
The company further stated that the divestment was in line with the Federal Government’s aim of developing Nigerian companies in the country’s upstream oil and gas business, through the local content initiative.
Hi. I’m a Web Developer and Graphics Designer, I enjoy blogging as part-time and I draw a lot when I’m free. Thanks for visiting my blog today and I hope you come back next time.
0 comments:
Post a Comment