Shell sells stake in Nigeria oil licenses

Royal Dutch Shell said on Friday it has agreed to sell its 30 percent stake in three Nigerian oil production licenses to a consortium consisting of two Nigerian firms and France’s Maurel & Prom.

“This sale of assets supports the Nigerian government’s goal of expanding opportunities for local energy companies,” said Mutiu Sunmonu, managing director of Shell Petroleum Development Company of Nigeria.

The oil mining leases 4, 38 and 41 are located in the northwestern part of the Niger Delta and include 30 wells with a production capacity of around 50,000 barrels of oil equivalent per day.

Source: Reuters