Nigeria is poised to increase oil production by 29% this year from 1.7 million barrels/day to 2.2 million which is partly fueled by some ambitious acquisitions by local companies.

2 local companies, Seplat and Renaissance Consortium have acquired assets from ExxonMobil and Shell respectively.

Seplat is poised to increase oil production with the recent acquisition of the assets of ExxonMobil worth $1.28bn and Shell’s asset sale for up to $2.4 billion to Renaissance Consortium, comprising five companies, has also been concluded.

Roger Brown, CEO of Seplat which is listed in the Nigerian and London stock exchanges, in a recent interview with the Financial Times of London, described the deal as a game changer in Seplat’s drive to become one of Nigeria’s biggest oil producers.

Seplat has emerged as one of Nigeria’s biggest domestic producers with an asset base of 11 onshore oil blocks, 48 oil and gas fields, three export terminals and five gas processing facilities.

The Shell assets in the Renaissance Consortium deal hold a combined estimated volume of 6.73 billion barrels of oil and condensate and 56.27 trillion cubic feet of associated and non-associated gas.

Atom has our own entity in Nigeria which is owned by us from the UK and can provide the full range of EOR services including payroll and work permits.

https://allafrica.com/stories/202504080119.html

Speak with the Adam (adam@atomhub.co.uk) and Sam (sam@atomhub.co.uk) today – to see how we can help you.