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Acquisitions and Divestitures News in Nigeria

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. ...
Lekoil Receives Nigerian Ministerial Consent for Otakikpo farm-In
6/16/2015 - Lekoil, the oil and gas exploration and development company with a focus on Nigeria and West Africa more generally, is pleased to announce that the Honourable Minister of Petroleum Resources of Nigeri...
Chevron to Release Documents in Lawsuit over Nigerian Oil Leases
5/26/2015 - Chevron USA and BNP Paribas agreed recently in District Court in Texas to turn over documents and correspondence between the two companies and other entities to the Nigerian oil company that has sued ...
SacOil Terminates Participation in Oil Prospecting Licence 233
5/20/2015 - SacOil shareholders are advised that, in line with SacOil’s strategy to focus on proven resources as a basis for growth, the Company has embarked on a process of balancing and rationalising its portfo...
Brittania-U Prepares for May 18 Hearing in Ongoing Oil Lease Dispute
3/31/2015 - Nigeria's Supreme Court has set a May 18 hearing date in the 15-month-old dispute between Brittania-U Limited of Nigeria and Chevron Nigeria and Chevron USA over the sale of three oil leases in the Ni...
Total Completes $1b of Onshore Divestments
3/30/2015 - Total has completed the divestment of its stake in onshore Oil Mining Lease (OML) 29 to Aiteo Eastern E&P, a Nigerian company, for $569 million. Together with the recently completed divestments of OML...
SPDC Completes Sale OML29 & Nembe Creek Trunk Line
3/25/2015 - The Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell plc (Shell), has completed the assignment of its interest in oil mining lease (OML) 29 and the Nemb...
Mart Completed Purchase of Onshore Nigerian OML18
3/20/2015 - Mart Resources, Inc is a member of a consortium that has acquired a 45% participating interest in Nigerian Oil Mining Lease 18 (“OML 18”) and all associated assets, wells, pipelines and infrastructure...
Seplat Completes Acquisition of Interest in OML 53
2/5/2015 - SEPLAT Petroleum Development Company Plc, a leading Nigerian indigenous oil and gas company listed on both the Nigeria Stock Exchange and London Stock Exchange, announces that it has completed the acq...
Seplat Acquires Interest in OML 55 Onshore Nigeria
2/5/2015 - SEPLAT Petroleum Development Company Plc, a leading Nigerian indigenous oil and gas company listed on both the Nigeria Stock Exchange and London Stock Exchange, announces that it has concluded negotia...
SacOil Says Could Exit Nigeria Assets
2/2/2015 - South Africa's oil and gas explorer SacOil Holdings said on Monday it may cancel an agreement to complete an appraisal on a prospective oil asset in Nigeria and could exit other assets as the price of...
Shell Completes Sale of Nigeria OML 24 Stake for $600m
11/20/2014 - The Shell Petroleum Development Company of Nigeria Limited (SPDC) has completed the assignment of its 30% interest in Oil Mining Lease 24 (OML24) and related facilities in the Eastern Niger Delta to N...
Mart Participates to Acquire Onshore Nigerian OML 18
10/21/2014 - Mart Resources, Inc is a member of a consortium that has entered into an assignment agreement with The Shell Petroleum Development Company of Nigeria Limited (“SPDC”), Total E&P Nigeria Limited and ...

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