Nigeria: Heritage wins OML 30 with $850m bid
Issue 235
- 13 Jul 2012
| 2 minute read
Heritage Oil has won the battle for Shell’s producing OML 30 in an $850m deal that will significantly boost production and reserves. Heritage has set up a joint venture called Shoreline Natural Resources with local partner Shoreline Power Company to acquire 45% in the block from Shell Petroleum Development Company, Total E&P Nigeria and Nigerian Agip Oil Company.
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