Nigeria Eyes 480,000 bpd Boost in $1.28B ExxonMobil-Seplat Deal

• Nigeria approves ExxonMobil’s $1.28 billion divestment to Seplat Energy, potentially boosting oil output
• The deal covers four oil mining leases, 90 platforms, and 300 producing wells

Lagos, Nigeria – Nigeria is poised to add 480,000 barrels per day (bpd) to its oil production following the approval of ExxonMobil’s $1.28 billion divestment of its stake in Mobil Producing Nigeria Unlimited (MPNU) to Seplat Energy. The Nigerian National Petroleum Company Limited (NNPCL) announced the signing of the agreement in a statement on Thursday.