Oil giant Shell Plc is reportedly planning to resume talks with Eroton Exploration and Production Company Ltd. to sell some of its assets in Nigeria. Shell, which has been operating in Nigeria since 1937 and is the country’s largest oil producer, aims to offload certain oil fields as part of its strategy to focus on more profitable areas.....KINDLY READ THE FULL STORY HERE▶
Nigeria, Africa’s largest oil producer and one of the world’s top 10 oil producers, possesses significant proven oil reserves estimated at 37 billion barrels. Oil and gas account for about 90 percent of Nigeria’s export earnings and over 70 percent of its government revenue….CONTINUE READING
Eroton Exploration and Production Company Ltd., a Nigerian oil and gas exploration and production company, was established in 2018 as a joint venture between the Nigerian National Petroleum Company Limited (NNPCL) and a consortium of Nigerian investors.
The company is dedicated to developing and producing oil and gas resources in Nigeria.
Shell’s discussions with Eroton Exploration and Production Company Ltd. have been ongoing since 2019, and the proposed sale of assets is anticipated to generate substantial revenue, amounting to billions of dollars, for the oil giant.
