Shell, GT bank give Amni oil-backed loan

Nigeria

ABUJA, March 16, 2018 – Guaranty Trust Bank and Shell’s local arm have agreed a USD 270-million oil-backed loan to Nigerian independent Amni International, international media reported Thursday.

Amni said the loan would be used to further develop its Ima and Okoro/Setu fields.

“We are excited to work with GT Bank and Shell as commercial and financial partners to enable the realisation of Amni’s ambitious plans for growth,” Amni’s chief executive Tunde Afolabi told Reuters.

Amni operates OML 112, OML 117 and OML 52 in Nigeria with average production of 16,000 bopd.