Wednesday, 27 August 2014

Shell advances Nigerian oil field sale to meet $15 bn plan

THE HAGUE, Netherlands (Bloomberg) -- Royal Dutch Shell Plc is advancing plans to sell four fields in Nigeria to meet a $15 billion asset-sales plan. The company “has signed sales and purchase agreements for some of the oil mining leases but not all that we are seeking to divest,” Shell Petroleum Development Co. of Nigeria Ltd. said Aug. 27 in an emailed statement. “The assets under consideration are OMLs 18, 24, 25, 29 and the Nembe Creek Trunk Line, but the process has not yet concluded.”


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