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Acquisitions and Divestitures News in Nigeria

Nigerian Petroleum Revokes 6 Oil Block Licences due to 'legacy debts'
6/6/2019 - Nigeria’s Department of Petroleum Resources has revoked six oil block licenses due to “legacy debts”. The oil mining leases (OML) and oil prospecting licences (OPL) affected are OML 98, 120, 121, 108 ...
OPL 245 – RDS plc Informed of DPP Preparing to Prosecute
3/1/2019 - We have been informed by the Dutch Public Prosecutor’s Office (DPP) that they are nearing the conclusion of their investigation and are preparing to prosecute Royal Dutch Shell plc for criminal charge...
OPL 310 Licence Relief from Expiration
11/26/2018 - LEKOIL, the oil and gas exploration, development and production company with a focus on Africa, announces that the Company has written to the Federal Ministry of Petroleum Resources for a relief from ...
Eland Oil & Gas Confirms OML 40 Licence Renewal
11/12/2018 - Eland Oil & Gas PLC, an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, has announced, through its joint-venture subsidiary, Elcrest Exploration...
Vitol-led Consortium Buys Petrobras’ Nigerian Assets for $1.4B
10/31/2018 - A consortium led by Vitol and comprising Africa Oil Corp (“Africa Oil”) (25%), Delonex Energy Ltd. (“Delonex”) (25%) and Vitol Investment Partnership II Ltd. (“Vitol”) (50%), (collectively, the “Conso...
Vitol-led Group in Talks to Buy Nigeria Assets from Petrobras
6/18/2018 - A consortium led by top oil trader Vitol has entered exclusive talks to acquire stakes in Nigerian offshore fields that are held by Brazil’s Petrobras and its partners, industry sources said. ...
LEKOIL Receives Ministerial Consent for OPL310 Farm-in
6/9/2017 - LEKOIL, the oil and gas exploration, development and production company with a focus on West Africa, is pleased to announce that the Honourable Minister of Petroleum Resources of Nigeria has granted c...
Eni's Acquisition of OPL 245 Given Legal Clearance
12/22/2016 - Eni takes note of the closure of the investigation and reaffirms the propriety of the transaction related to the acquisition of the OPL 245 operating license. Eni and Shell concluded the transaction w...
Nigeria Proposes Broad Oil Sector Overhaul, Sale of Stakes in NNPC
11/11/2016 - Nigeria outlined a plan to overhaul state oil company NNPC and eventually list it on the stock exchange in a bid to modernize and streamline an industry known for graft and mismanagement. The ministry...
Nigeria Looks to Raise Cash by Selling Oil Assets
9/28/2016 - Facing the likelihood of its first full-year economic contraction in 25 years, Nigeria is contemplating a rare sale of stakes in the oil and gas industry, the country’s biggest foreign-exchange earner...
San Leon Provides Update on Acquisition of Interest in OML 18
8/22/2016 - Further to the announcement on 11 August 2016, the Company continues to progress with the acquisition of an indirect interest in OML 18, a producing onshore Oil field located in the Southern Niger Del...
San Leon Provides Nigerian Onshore Production Deal Update
5/24/2016 - San Leon Energy plc, the AIM quoted oil and gas exploration and production company focused on Europe and Africa, is pleased to provide the following update on its production deal on the OML 18 block, ...
MX Oil Agrees Sale of Investment in Aje Field, Nigeria
2/26/2016 - MX Oil plc, the AIM quoted oil and gas investing company, has now agreed terms for the sale of its investment in the Aje Field offshore Nigeria to GEC Petroleum Development Company Limited (GPDC). GPD...
MX Oil Provides Update on Proposal for its Nigerian Investment
2/2/2016 - Further to its announcement on 25 January 2016, MX Oil is pleased to provide an update in connection with the proposal it has received for its Nigerian investment in the proven Aje Field offshore Nige...
Acquisition of Afren’s Participating Interest in OPL 310
12/1/2015 - Lekoil, the oil and gas exploration and production company with a focus on Nigeria and West Africa, has agreed to acquire Afren plc’s entire 22.86% participating interest in OPL 310, which contains t...
SacOil Provides Update Related to OPL281
11/12/2015 - As previously announced to shareholders on 1 April 2015, SacOil terminated its participation with Transnational Corporation of Nigeria Plc (“Transcorp”), the operator of Oil Prospecting Licence 281 (“...
NNPC to Review Production-Sharing Contracts, Joint Ventures
8/16/2015 - The new head of the Nigerian National Petroleum Corp (NNPC) said he will review all production-sharing contracts and joint venture agreements with its partners "to reflect current day realities in the...
Mart Resources Amended Agreemnet
7/27/2015 - Mart Resources, Inc announces that further to its press releases of June 15, 2015 and July 16, 2015, Midwestern and Mart have jointly agreed, pursuant to the terms of a second amending agreement, to f...
Oando Signs Agreement to Sell Its Stake in Downstream Businesses
6/30/2015 - Oando Plc, an integrated oil and gas company headquartered in Nigeria, is pleased to announce that a definitive agreement has been executed with HV Investments II B.V., (“HVI”), a joint venture owned ...
Chevron Selling 40% Stakes in Two Nigerian Oil Blocks
6/24/2015 - U.S. oil company Chevron Corp said it was selling its 40 percent stakes in two more Nigerian shallow water offshore oil blocks, Oil Mining Leases (OML) 86 and 88 in the Niger Delta area. ...

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