French company Seplat Petroleum Development Company has acquired a 45% stake in oil mining licences (OMLs) in Nigeria from Shell, Total and Agip.
The firm is expecting a global production from the OMLs of 52,000bpd of fluids with about 30,000bpd of crude oil and 120mmscf of natural gas.
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SEPLAT’s share will be 45% of the global production, with a royalty rate of 20% for oil and of 7% for gas.
In turn, Maurel & Prom’s allocation after royalties will be 16.2% of the global production of oil and 18.83% of the gas production.
M&P owns a 45% stake in Seplat.
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By GlobalData
