Seplat Looking to Buy Exxon's Shallow Water Fields in Nigeria

Sachin Ravikumar
Monday, November 29, 2021
Lagos Island, Nigeria - Credit: Bassey/AdobeStock

Nigeria's Seplat Energy along with a partner is in talks to buy ExxonMobil's shallow-water oilfields in the African nation, the company said on Monday, cautioning there was no certainty about the outcome.

In recent years, Exxon has been exiting investments worth billions of dollars in oil and gas fields in Europe, Asia and Africa as the U.S. energy major focuses on a handful of mega projects at home and abroad.

The company has accelerated asset divestments in Africa this year, selling an 80% interest in a Ghanaian offshore block and proposing to offload its stake in the Doba oilfield in Chad.

An Exxon representative in London did not immediately respond to a request for comment on Seplat's announcement.

(Reporting by Sachin Ravikumar in Bengaluru; Editing by Vinay Dwivedi)

Categories: Energy Mergers & Acquisitions Industry News Activity Africa Shallow Water

Related Stories

Eni Sells Plenitude Share to Ares for $2.3B

Eni Sells Plenitude Share to Ares for $2.3B

Enhanced Oil Spill Detection System Starts Operating Offshore Brazil

Enhanced Oil Spill Detection System Starts Operating Offshore Brazil

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Current News

Oil and Gas to Wind Cross-Skill Pilot Delivers First Batch of Qualified Technicians

Iberdrola Names New CEO

Aker BP Installs New Jacket at Valhall Field in Southern North Sea (Video)

All Inter-Array Cables Installed at 488 MW French Offshore Wind Farm

Subscribe for OE Digital E‑News

Offshore Engineer Magazine