At least five Nigerian oil and gas companies are reportedly planning to submit bids for Royal Dutch Shell’s oil assets in the country this month.

A potential sale of the onshore oilfields could be worth up to $3bn, reported Reuters, citing three sources involved in the process.

The five companies are Sahara Group, Seplat Energy , Famfa Oil , Nigeria Delta Exploration and Production (NDEP), and Troilus Investments.

Nigeria-focused Africa Bridge Capital Management has also been appointed by Troilus Investments to raise up to $3bn for the oil fields, according to sources and documents seen by the news agency.

The sources further told Reuters that the bidding process would not see participation from international oil firms at this point. The bids are due to be placed by 31 January 2022.

Shell currently operates the onshore oil and gas joint venture Shell Petroleum Development Company of Nigeria (SPDC) with a 30% stake.

The state’s Nigerian National Petroleum Corporation (NNPC) holds a 55% stake while TotalEnergies and Eni own 10% and 5%, respectively.

Shell holds stakes in 19 oil mining leases in the SPDC. These have an approximate value of $2bn to $3bn, according to the industry and banking sources.

The NNPC will have the option to exercise its right to pre-empt any of Shell’s asset sales to a third company.

Shell has been working with the Nigerian Government since last year to divest its stake in onshore fields. It is a part of the Anglo-Dutch company’s wider effort to reduce carbon emissions from its operations.

Last month, Chevron Suriname Exploration (CSEL) signed a deal to transfer a 20% stake in Block 5, offshore Suriname, to Shell.