ExxonMobil divests Nigerian interests

ABUJA, February 28, 2022 – ExxonMobil has signed an agreement to sell its equity interest in oil producer Mobil Producing Nigeria Unlimited to Nigerian independent Seplat Energy, the American super-major announced on Friday.

The sale includes the Mobil Development Nigeria and Mobil Exploration Nigeria equity ownership of Mobil Producing Nigeria Unlimited. The company holds a 40% stake in four oil mining licences, including more than 90 shallow-water and onshore platforms and 300 producing wells.

ExxonMobil maintains its presence in Nigeria with its deepwater assets, including the Erha, Usan and Bonga developments.

The transaction is due to close later this year.

Cost of the deal was not disclosed.

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