The Nigerian government has approved four major oil divestments including the sale of ExxonMobil onshore assets to Seplat Energy, more than two years after the deal was first secured. The regulator, however, rejected one for failing “regulatory tests.”
The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, disclosed these while speaking at the launch of the project one million barrels of oil per day (mmbpd) initiative in Abuja on Monday.
In February 2022, Seplat announced it had closed a deal with ExxonMobil to fully purchase its 40 per cent interest in a shallow-water joint venture with the Nigerian National Petroleum Company Limited (NNPC Ltd).
