Shell Expands In Nigerian Deepwater As It Acquires TotalEnergies’ 12.5% Share In OML 118

Shell to increase interest in Nigeria’s deep-water Bonga field - Drilling Contractor

Shell signed an agreement with TotalEnergies to acquire its 12.5% stake in the OML 118 Production Sharing Contract (OML 118 PSC), an oil mining lease offshore Nigeria that includes the Bonga field. Upon completion, this transaction increases Shell’s interest in the OML 118 PSC from 55% to 67.5%. SNEPCo is the operator under the OML … The post Shell to increase interest in Nigeria’s deep-water Bonga field appeared first on Drilling Contractor.

Shell Expands In Nigerian Deepwater As It Acquires TotalEnergies’ 12.5% Share In OML 118

Shell Nigeria Exploration and Production Company (SNEPCo) has signed a definitive agreement to acquire a 12.5% participating interest in Oil Mining Lease (OML) 118 from TotalEnergies for $150 million, strengthening its position in Nigeria’s offshore deepwater sector. The agreement, announced this week, will increase Shell’s total interest in OML 118 from 55% to 67.5%, consolidating […] The post Shell Expands in Nigerian Deepwater as It Acquires …