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Shell sells Nigerian assets to Dossou and local players, as majors continue onshore exit

In depth
Issue 498 - 21 Jan 2024 | 14 minute read

Shell is selling Nigerian subsidiary SPDC, with the onshore and shallow-water operator going to a consortium of local companies allied to industry veteran Samuel Dossou-Aworet for a sum of up to $2.4bn the supermajor is helping to fund.

While Shell is retaining some other valuable Nigerian assets, it adds to a trend of international majors exiting all but their big deep-water oil and gas plays, following recent deals by ExxonMobil, TotalEnergies and Eni.

African Energy analyses several aspects of a complex deal.

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