- Acquires 45% of OML 17 from Shell, Total and ENI - Existing Production Capacity of 27,000 barrels of oil equivalent per day Estimated 2P Reserves of 1.2 billion barrels of oil equivalent - Estimated
In Nigeria: Heirs Holdings Significantly Expands Oil and Gas Portfolio gnnliberia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gnnliberia.com Daily Mail and Mail on Sunday newspapers.
The Shell Petroleum Development Company of Nigeria (SPDC), has completed the sale of its 30% interest in Oil Mining Lease (OML) 17 in the Eastern Niger Delta, and associated infrastructure, to TNOG Oil and Gas for a consideration of $533m.
Tony Elumelu’s Heirs Holdings (“HH”), the leading African strategic investor, in partnership with affiliated company Transnational Corporation of Nigeria Plc (“Transcorp”), Nigeria’s largest publicly listed conglomerate, announced today the unconditional acquisition of a 45% participating interest in Nigerian oil licence OML 17 and related assets, through TNOG Oil and Gas Limited (a related company of Heirs Holdings and Transcorp), from the Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited and ENI. In addition, TNOG Oil and Gas Limited will have sole operatorship of the asset,Niyi Tabiti gathered.
The transaction is one of the largest oil and gas financings in Africa in more than a decade, with a financing component of US$1.1 billion, provided by a consortium of global and regional banks and investors. OML 17 has a current production capacity of 27,000 barrels of oil equivalent per day and, according to our estimates, 2P reserves of 1.2 bi
Heirs Holdings expands oil and gas portfolio, acquires 45% of OML 17 from Shell, Total, ENI tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.