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Shell, Total and Eni agree sale of four Nigerian blocks and pipeline for US$5.16 billion
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Report summary
Shell has signed sale and purchase agreements for OMLs 18, 24, 25, 29 and the Nembe Creek Trunk Line. Shell, Total and Eni are selling their combined 45% stake. Total consideration is reported locally as US$5.16 billion. Despite the huge remaining reserves, we expect the buyers will extract only a fraction of what is left. The deals are still to be completed.
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