Shell Agreed to Sell an Oil Block in Nigeria
Posted: 10/09/2014 02:10:31 Edited: 10/09/2014 03:10:31 Clicks: 4674
Two insiders disclosed that Royal Dutch Shell PLC, RDSB. LN had already agreed to sell an oil block in Nigeria which had high productivity to a financial group which was led by Taleveras Group.
Taleveras will pay more than 2.5 billion dollars to Shell to buy oil block named as Oil Mining License 29 and a relevant pipe.
Shell is always trying to sell several land asserts in Nigeria, which suffer from leakage due to oil theft.
Last year, Shell announced to auction Oil Mining License 29 which was the largest assert of Shell in the Southern of Niger Delta. In the deal, besides oil block, financial group led by Taleveras will also buy Nembe Creek pipe which is as long as 60 miles (about 97 kilometers). The old pipe is still one of main oil transmission pipes in Nigeria though it has leakage. The spokesman of Shell refuses to comment OML 29.
Selling Nembe Creek Trunk Line will be the biggest action so far that Shell will quit oil production in Nigeria. In several decades, troublesome is always perplexing in the region. Nembe Creek pipe transmits oil to the coast of the Atlantic Ocean passing through Delta. Over the past year, several leakages happened in Nembe Creek oil pipe. The pipe had been closed for several times and had at least one fire disaster.
Entities which sell oil pipe and oil block include Shell, Nigeria National Petroleum Corp. and joint venture combined by Total SA and Eni SPA. Proportionate interests of their proprietorship are respectively 30%, 55%, 10% and 5%.
Taleveras will pay more than 2.5 billion dollars to Shell to buy oil block named as Oil Mining License 29 and a relevant pipe.
Shell is always trying to sell several land asserts in Nigeria, which suffer from leakage due to oil theft.
Last year, Shell announced to auction Oil Mining License 29 which was the largest assert of Shell in the Southern of Niger Delta. In the deal, besides oil block, financial group led by Taleveras will also buy Nembe Creek pipe which is as long as 60 miles (about 97 kilometers). The old pipe is still one of main oil transmission pipes in Nigeria though it has leakage. The spokesman of Shell refuses to comment OML 29.
Selling Nembe Creek Trunk Line will be the biggest action so far that Shell will quit oil production in Nigeria. In several decades, troublesome is always perplexing in the region. Nembe Creek pipe transmits oil to the coast of the Atlantic Ocean passing through Delta. Over the past year, several leakages happened in Nembe Creek oil pipe. The pipe had been closed for several times and had at least one fire disaster.
Entities which sell oil pipe and oil block include Shell, Nigeria National Petroleum Corp. and joint venture combined by Total SA and Eni SPA. Proportionate interests of their proprietorship are respectively 30%, 55%, 10% and 5%.
