OML 17 allows Tony Elumelu's Heirs to take on Seplat
By Pierre-Olivier Rouaud The acquisition of oil block OML 17 from Total and Shell should allow Tony Elumelu’s group to shake up the hierarchy of local oil operators. On 15 January 2021, Trans-Niger Oil & Gas Limited (TNOG) and Transcorp plc, two of the companies in the galaxy of 58-year old tycoon Tony Elumelu â along with his Heirs Group â bought 45% of OML Block 17 from Shell (30%), Total (10%) and ENI (5%). The acquisition is estimated to be worth over $800m. âWho would have thought that when we started this journey, all those years ago, it would take us the better part of...
Source: naija247news.com