Dutch oil giant, Shell has assured workers that their jobs are safe as it reaches an agreement to sell its Nigerian onshore subsidiary, the Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance For $2.4bn.
Renaissance is a consortium of five firms made up of four exploration and production companies based in Nigeria and also an international energy group.
“Completion of the transaction is subject to approvals by the Federal Government of Nigeria and other conditions,” Shell said in a Tuesday statement on its website.
