SPDC completes 8th Nigerian oil mining lease sale

SPDC completes 8th Nigerian oil mining lease sale
 
The Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell plc. (Shell), has completed the assignment of its 30 per cent interest in Oil Mining Lease 30 (OML30) in the Niger Delta to Shoreline Natural Resources Limited (Shoreline). Total cash proceeds for Shell amount to some US$567 million.
 
This divestment is part of the re-shaping of SPDC’s onshore portfolio and is in line with the Federal Government of Nigeria’s aim of developing Nigerian companies in the country’s upstream oil and gas business.

Advertising