According to Special Adviser Information and Strategy to President Tinubu, Bayo Onanuga: “A promise fulfilled: ExxonMobil’s oil and gas asset sale to Seplat approved
 |
| Presidency Nigeria |
“In his October 1 broadcast, President Bola Tinubu said the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has approved the $1.3 billion Exxon Mobil onshore oil and gas asset sale to Seplat.
Today, NUPRC announced the approval at the official launch of its one million barrels per day project at an event at Transcorp, Abuja.
Gbenga Komolafe, the chief executive officer of the Nigerian Upstream Petroleum Regulatory Commission, said the ExxonMobil-Seplat transaction had received ministerial consent.
As Bloomberg reports, the sale will free ExxonMobil to focus on expanding its offshore assets in Nigeria. Last month, the company said it was considering investing as much as $10 billion in that business in the coming years.
@SeplatEnergy has said that acquiring Exxon’s assets would almost quadruple the company’s oil output to more than 130,000 barrels daily.”
