Nigeria: Big Scramble for Shell’s Oil Blocks

On February 9th, 2011, posted in: Jan/Feb 2011 News by

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Chika Amanze-Nwachuku

Lagos — No fewer than 18 consortia have expressed interests in some oil fields offered for sale by Shell Petroleum Development and Production Company (SPDC) and its partners.

Oil giant Shell last year offered four of its oilfields in the Niger Delta said to have valued at between $150 million to $2 billion for sale. 

oilTHISDAY had reported that the oil giant selected a few local companies from among the 30 local firms that submitted expression of interest in the deal. It was learnt that to qualify, the companies had to prove they had the financial and technical means to implement a development plan for the fields, some of which are shut in. Sources familiar with the deal had hinted that Midwestern Oil and Gas, Niger Delta Petroleum Resources and Setplat Petroleum were among the companies that expressed interests in the oil blocks.

However, a report yesterday by Sunday Times of London stated that Nat Rothschild, scion of the banking dynasty, was backing one group of bidders, while Russian gas giant, Gazprom was leading a bid with Nigerian resources firm Equinox Group.

The report, which quoted an unnamed source close to the deal, said London-listed oil industry services group Petrofac has joined forces with Nigerian gas firm, Seven Energy to bid for one of the blocks being sold, while London-listed oil group Afren Plc also plans to make an offer.

Source: thisdayonline                                      Image:blog kir

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