2 Nigeria oil fields sold to Nigerian companies

November 14, 2011

Africa, International

2 onshore Nigeria oil fields sold to local firms
Associated Press
LAGOS, NIGERIA— Nigeria’s state-run oil company says two onshore oil fields once owned by Royal Dutch Shell PLC, Eni SpA and Total SA have been sold to local firms.
The Nigerian National Petroleum Corp. said in a statement Sunday the fields were once operated by Shell’s Nigerian subsidiary. Local firm First Hydrocarbon Nigeria, a subsidiary of Afren PLC, bought the 45 percent share once held by the foreign firms in one field that the state-run oil company estimates will produce 50,000 barrels of oil a day by 2015.
A 45 percent stake in another field went to Neconde Energy Ltd. The statement offered no sale price for the two fields.

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