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Seplat Energy in talks to acquire ExxonMobil’s Nigerian shallow water oilfields

Seplat Energy in talks to acquire ExxonMobil’s Nigerian shallow water oilfields
November 29
14:51 2021

Seplat Energy Plc says it is currently in talks to acquire ExxonMobil’s shallow-water oilfields in Nigeria. 

The company said this on Tuesday in a statement issued on the Nigerian Exchange Limited (NGX). 

Emeka Onwuka, chief financial officer, Seplat Energy, said the company was looking to acquire the asset in partnership with an ally.

According to the statement, Onwuka ‘confirms that Seplat Energy, together with a partner, is in competitive discussions to acquire ExxonMobil’s Nigerian shallow water business.’

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“Deliberations are ongoing and accordingly, there can be no certainty as to the outcome,” the statement reads. 

“A further announcement will be made as and when appropriate, in line with regulatory requirements.”

ExxonMobil is divesting from oil and gas fields in Nigeria.

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Last month, Liam Mallon, ExxonMobil president, had said the company remains “committed” to Nigeria despite its decision to divest from the joint venture (shallow water) with the Nigerian National Petroleum Corporation (NNPC).

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