NNPC Limited and ExxonMobil have sealed a $1.28 billion asset divestment deal involving Mobil Producing Nigeria Unlimited.
The agreement was reached to transfer a 100% interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited.
This milestone follows a directive from President Tinubu urging the Ministry of State for Petroleum Resources (Oil) and NNPC Limited to expedite the deal, aiming to unlock substantial benefits for Nigeria and its stakeholders.
NNPC Limited confirmed the settlement agreement in a statement, stating its commitment to advancing the country’s energy sector. The divestment is expected to enhance operational efficiency and boost investment in Nigeria’s oil and gas resources.
