- 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.
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