ExxonMobil is planning to sell a suite of oil and gas fields in
Nigeria as it focuses on new developments in the United States shale and
Guyana, industry and banking sources have said.
The potential disposals are expected to include stakes in onshore and
offshore fields and could raise up to three billion dolars, two sources
told
Reuters.
“Exxon is actively divesting in Nigeria,” one source who was briefed on the divestment plans said.
Exxon declined to comment.
The Irving, Texas-based oil firm is one of the largest oil and gas
producers in Nigeria, with 106 operated platforms. Its oil output in the
West African country reached 225,000 barrels per day (bpd) in 2017, its
website says.
Exxon officials have held talks in recent weeks with several Nigerian companies to gauge their interest in the fields.
One source said Exxon was due to open a “data room” – which would
provide technical information on the fields, such as seismic and
production details.
The discussions focused on a number of onshore fields Exxon is in
joint ventures (JV) with Nigeria National Petroleum Corporation (NNPC)
including oil mining leases (OMLs) 66, 68, 70 and 104. Exxon’s share of
oil production in those fields reached 120,000 bpd in 2017, the last
year for which data was available.
Exxon is also weighing the possible sale of stakes in offshore fields in Nigeria, two sources said.
It is looking into offering for sale of assets in Equatorial Guinea and Chad, according to sources.
● Reuters/NAN
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