Nigeria’s oil and gas industry is bracing for another wave of asset sales. At least 10 onshore and shallow-water oil blocks, holding an estimated two billion barrels of oil equivalent, are set to come up for potential divestment, according to findings by BusinessDay. Data sourced from a new report by Renaissance Capital Africa show that International Oil Companies (IOCs) and the Nigerian National Petroleum Company Limited (NNPC) are preparing to offload mature onshore and swamp assets as they double down on offshore and deepwater operations.
Nigeria’s oil and gas industry is bracing for another wave of asset sales. At least 10 onshore and shallow-water oil blocks, holding an estimated two billion barrels of oil equivalent, are set to come up for potential divestment, according to findings by BusinessDay. Data sourced from a new report by Renaissance Capital Africa show that International Oil Companies (IOCs) and the Nigerian National Petroleum Company Limited (NNPC) are preparing to offload mature onshore and swamp assets as they double down on offshore and deepwater operations.