Nigeria’s Seplat in talks to buy Exxon’s local shallow-water oil fields – archyde

Signage is seen at an Exxon gas station in Brooklyn, New York City, United States on November 23, 2021. REUTERS / Andrew Kelly

29. November (Reuters) – Nigerias Seplat Energy (SEPLAT.LG) together with a partner in talks about the purchase of ExxonMobils (XOM.N) Shallow-water oil fields in the African nation, the company said on Monday, warning that there is no certainty about the outcome.

In the past few years, Exxon has made multi-billion dollar investments in oil and gas fields in Europe, Asia and Africa as the US energy company focuses on a handful of mega-projects at home and abroad.

The company accelerated asset divestments in Africa earlier this year by selling an 80 percent stake in a Ghanaian offshore block and proposing to divest its stake in the Doba oil field in Chad.

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

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Reporting by Sachin Ravikumar in Bengaluru; Adaptation by Vinay Dwivedi

Our standards: The Thomson Reuters Trust Principles.


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