OIL eyes Shell oil and gas assets in Nigeria

oil nigeria-johnhill wikimedia commonsThe deal may be worth US$2bn, company sources said. (Image source: John Hill/Wikimedia Commons)Oil India Limited (OIL) is looking at buying Shell stakes onshore Nigerian oil and gas assets

OIL will partner with India’s Sandesara Group on the potential purchase, the sources added.

The Indian explorer will join Dangote Group and Seplat Petroleum Development Company in seeking to acquire Nigerian assets, Bloomberg stated.

Shell and Chevron are reportedly divesting fields in the country amid persistent violence and crude theft in the oil-rich Niger River Delta.

India’s government-run oil companies are building on their record US$5.5bn of acquisitions in 2013 to secure supplies for Asia’s second-biggest energy consumer. Oil India Limited had purchased stakes in gas fields in Mozambique and shale assets in the US over the past two years.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

twn Are you sure that you want to switch to desktop version?