Olu Verheijen, special adviser to the president on energy, says the issues around Shell’s proposed sale of its onshore assets to Renaissance, a consortium of local companies will be resolved soon.
“I am sure that in short order it will be resolved with the regulator in a way that addresses our own objectives to continue to accelerate exits for international oil companies,” Verheijen said during a call with the energy reporters’ association on Wednesday, according to Bloomberg.
On January, Shell Petroleum Development Company of Nigeria Limited (SPDC) announced plans to sell its Nigerian onshore oil assets to a consortium of local companies for over $1.3 billion.
The consortium, known as Renaissance, is formed by local firms including ND Western, Aradel Energy, First Exploration & Production (E&P), Waltersmith, and Petrolin.
On October 21, Gbenga Komolafe, the chief executive officer (CEO) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), had said the deal was one of four divestment deals that the federal government approved.(the Cable)
