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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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    Shell, Total and Eni agree sale of four Nigerian blocks and pipeline for US$ 5.16 billion

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