Acquisitions and Divestitures News in Nigeria

Afren Completes Farm out Agreement on OPL 310
5/14/2013 - Afren plc announces the completion of a farm out agreement with Lekoil Limited ("Lekoil") on the OPL 310 licence, located offshore Nigeria, and an update on the exploration drilling programme on the b...
Westbridge Establishes Strategic Alliance in Nigeria
5/9/2013 - Westbridge Energy Corporation announced it has entered into a strategic alliance agreement (the "Agreement") with United Oil and Gas Nigeria Limited ("UOG") to jointly acquire and develop near term pr...
Nigerian Lawmakers to Probe State Oil Firm Deals without Tenders
5/3/2013 - Nigerian lawmakers said that next week they will investigate deals in which the state-oil firm gave two local firms with no previous operating experience the rights to make potentially billions of dol...
Oando Announces Closing of Qua Ibo Acquisition
4/30/2013 - Oando Energy Resources Inc, a company focused on oil exploration and production in Nigeria, announced the closing of its acquisition from Oando Plc (“Oando”) of shares in Oando Qua Ibo Limited (which ...
Petrobras to Auction $5 Billion of Nigeria Oil Assets
3/27/2013 - Brazilian oil company Petrobras is to auction off its stakes in Nigerian oil fields to raise cash for domestic projects, a deal that may fetch up to $5 billion (£3.3 billion pounds), sources close to ...
Eland Oil & Gas Enters into Option Agreement for OPL 452
3/8/2013 - Eland Oil & Gas plc, an oil & gas development and exploration company operating in West Africa with a principle focus on Nigeria, is pleased to announce that an option agreement has been entered into ...
ConocoPhillips to Sell Nigerian Business Unit to Oando
12/20/2012 - ConocoPhillips announced it has entered into agreements to sell its Nigerian business unit for a total of $1.79 billion plus customary adjustments. ...
Total Announces the Sale of its 20% in OML 138
11/19/2012 - Total announces that it has finalized an agreement to sell its 20% contractor interest in OML 138 block to a wholly owned subsidiary of China Petrochemical Corporation (Sinopec), for approximately US$...
SPDC Completes 8th Nigerian Oil Mining Lease Sale
11/9/2012 - The Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell plc (Shell), has completed the assignment of its 30% interest in Oil Mining Lease 30 (OML30) in the...
Sinopec Close to Buying Total Nigeria Stakes
11/6/2012 - China's Sinopec is close to buying stakes in Nigerian onshore oil blocks from French oil major Total worth about $2.4 billion, the Bloomberg news agency reported, citing two people familiar with the m...
OER Signs HOA to Acquire 40% in Qua Ibo Field within OML 13
9/17/2012 - Oando Energy Resources Inc. ("OER" ) and Oando Plc ("Oando") are pleased to announce they have entered into non-binding Heads of Agreement , providing for the acquisition by OER of Oando's 40% partici...
SPDC Completes Sale of Nigerian Oil Mining Lease
9/3/2012 - Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell plc (Shell), completed on August 31st 2012 the assignment of its 30% interest in Oil Mining Lease (OML)...
Oracle Signs MOU with Bolad Energy
8/20/2012 - Oracle Energy Corp is pleased to announce that it has entered into a Memorandum of Understanding ("MOU") with Bolad Energy Company Ltd, a Nigerian registered corporation. Oracle's objective in securin...
NNPC Buys Shell Onshore Block
7/31/2012 - State oil company Nigerian National Petroleum Corp and a local company bought an onshore oil block operated Royal Dutch Shell on Tuesday, NNPC said in a statement. ...
CAMAC Announces Completion of OML 120/121 Acquisition
6/29/2012 - CAMAC Energy Inc announced that Allied Energy PLC (“Allied”), an affiliate of the Company’s largest shareholder, has closed the previously announced transaction to acquire the 40% working interest in ...
Shell Nigerian Selling 3 More Onshore Blocks
6/15/2012 - Royal Dutch Shell's Nigeria operation is working on selling three onshore oil blocks, the latest move to divest some of its onshore assets, a spokesman said. ...
Oando Acquires 40% Participating Interest in Qua Iboe Field
5/28/2012 - Oando Exploration and Production Limited (“OEPL”), a subsidiary of Oando PLC with 13 exploration and production assets, is pleased to announce that it has signed a farm-in agreement with Network Explo...
Shell, Chevron Oil Licenses Renewed by June
5/22/2012 - Nigeria expects to renew onshore oil licenses with U.S. firm Chevron and Royal Dutch Shell by June, its oil minister said, following Exxon Mobil's renewal in February worth trillions of dollars. ...
Conocophillips Selling Nigerian Assets
5/8/2012 - Conocophillips is selling all of its Nigerian assets including on-shore and off-shore oil and gas fields and a stake in its LNG Brass facility, sources familiar with the situation told Reuters. ...
Kulczyk to Let OML 42 Option Expire
3/28/2012 - Kulczyk Oil Ventures Inc announces that KOV and its major shareholder Kulczyk Investments S.A. ("KI") have mutually agreed that it was not in the best interest of either company to continue the option...

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