In what may suggest a rethink of its Nigerian business, Shell Petroleum Development Company (SPDC) has placed its stakes in 28 Oil Mining Leases (OMLs) in eastern Niger Delta for sale.
The company said in a statement that consultations are in progress with its international and local partners over the future of the leases that produce some 750,000 barrels a day of oil.
The statement issued by Shell’s spokesperson, Tony Okonedo added that Shell’s review of its Niger Delta oil licences came alongside a decision to go ahead with two other investments in the west African country – the Trans-Niger Pipeline loop-line (TNPL) and Phase Two of the Gbaran-Ubie gas project, which together will cost around $3.9 billion.