Wednesday, July 31, 2013

UPDATE 2-Shell to sell at least 4 more Nigeria oil blocks -sources




* Oil majors scaling back onshore, shallow water Nigeria
* Two blocks lie in region hit by oil theft, spills
* Nigerian firms, partnered with foreign, expected to bid
Joe Brock reports that;
will sell at least four more oil blocks in Nigeria in its latest divestment from Africa's top oil exporter, three oil industry sources familiar with the deals said on Wednesday.The blocks are Oil Mining Licenses (OMLs) 13 and 16 onshore the Niger Delta, and OML 71 and 72, which are in shallow water, the sources told Reuters.

Shell said in June that it was considering further sale of assets in the eastern Niger Delta, where it has security problems - although it has never publicly connected the two.
The oil major said then that it was still committed to Nigeria long term. It has already sold eight Niger Delta licences for a total $1.8 billion since 2010.

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