Royal Dutch Shell has sold its 30% interest in two oil mining leases and related facilities in the Niger Delta for $488m.
Nigerian firm FHN26 Limited acquired Shell’s stake in oil mining lease 26 (OML 26) for $98m, while Neconde Energy bought the company’s interest in OML 42 for $390m.
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OML 26 is producing approximately 6,000 barrels of oil per day from two fields, and covers an area of about 480km2.
OML 42, which covers 814km2, includes the Batan, Egwa, Odidi and Jones Creek fields and related facilities.
Operations at OML 42 was shut down due to militant activity, but the Batan field resumed production in early 2011.
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By GlobalData
