Exxon Mobil may sell a suite of oil and gas fields it holds in Nigeria, and has commenced talks on the sales as it focuses on new developments in United States’. shale and Guyana, industry and banking sources told Reuters.
The development followed a statement from the Nigerian National Petroleum Corporation (NNPC) that it would no longer sign off any gas project without plans for gas flare out.
According to Reuters’ sources who were briefed on the divestment plans: “Exxon is actively divesting in Nigeria.”
Reuters however said that Exxon declined to comment on the development, adding that the oil company which is one of the largest oil and gas producers in Nigeria, with 106 operated platforms had its oil output in Nigeria reach 225,000 barrels per day (bpd) in 2017.
It explained that Exxon officials have held talks in recent weeks with several Nigerian companies to gauge their interest in the fields, with another of the sources saying that Exxon would soon open a “data room” – which would provide technical information on the fields, such as seismic and production details, in Nigeria.