Shell Mulls Stakes Sale in Two Nigeria Blocks

Royal Dutch Shell PLC (RDSB) is considering selling $900 million worth of interests in Nigerian offshore blocks as it restructures and reduces its business in the troubled region, people familiar with the matter said Tuesday.

The news surfaces after Shell last week unveiled restructuring plans to cut costs and jobs at its Nigerian ventures following months of unrest and pressure by the Nigerian government to renegotiate contracts.


The Anglo-Dutch oil major is looking to divest the assets because it wants to cut the exposure of its portfolio to Nigeria, but also because the blocks are operated by another company, Eni SpA (E), a person involved in the possible deal said.

That person said the stakes could fetch $700 million to $900 million altogether. Shell declined to comment.

RigZone