Royal Dutch Shell said on Friday it had
completed the sale of its stake in a Nigerian oil field for $737 million
as the Anglo-Dutch oil major nears the completion of a strategic asset
review in the West African country.
Oil and Mining Lease (OML) 18 and
“related facilities in the Eastern Niger Delta” were sold to Eroton
Exploration & Production Company Limited.
Eroton also acquired French oil major
Total’s 10 percent stake and Italy’s Eni’s 5 percent stake in OML 18,
giving it a total 45 percent holding, Shell said in a statement.
OML 18 produced around 14,000 barrels of oil equivalent per day in 2014.
Shell announced last October that it had
signed sales agreements for all five Nigerian oil assets it put up for
sale following a 2013 review of its business in Nigeria.
The Anglo-Dutch company completed the sale of OML 24 in November.
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