Nigerian state oil company says Eni unit did not obtain its consent in Oando sale

📆 7/9/2566 22:45:00
📰 ReutersAfrica

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Nigerian state oil firm NNPC Ltd says a subsidiary of Italy's Eni did not obtain its consent prior to announcing a deal to sell onshore oil assets to local firm Oando PLC, a failure that could have breached terms of a joint operating agreement, according to a letter seen by Reuters.

on Monday, and underscores the difficulty international oil majors have faced in their years-long efforts to sell onshore oil and gas assets in Nigeria.

The state oil firm's subsidiary NNPC Exploration and Production Limited holds a 60% stake in a NAOC joint venture. "NEPL is only drawing attention to certain important clauses in the JOA, which might have been overlooked in error. Adherence to those clauses will protect the transaction now and in the future," he said.

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