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Divestment: Oando completes assets acquisition deal with Agip

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The Government has disclosed the completion of oil assets deals between the Nigerian Agip Oil Company, NAOC and Oando

The Federal Government has disclosed the completion of oil assets deals between the Nigerian Agip Oil Company, NAOC and Oando, and Equinor-Project Odinmim divestments.

He said: “For some of you who were at the panel session on Monday, the Chairman of IPPG raised issues about the need for us to give updates on the divestments programmes on-going. Now, I am here to give you a real-time update on the four major divestments in Nigeria.“The EQIONOR – PROJECT ODINMIM project divestment was also completed. For the SPDC – RENAISSANCE deals, documents have been submitted. Those documents are undergoing due diligence as we speak.

Komolafe pointed out that while as a regulator it was not in a position to declare “war” on low oil production, it will continue to ensure that operators play by rules governing the industry.

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