Shell selling three onshore Nigeria oil blocks

Shell blocks: Said to be in line to be sold

Shell

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By News wires

 15 June 2012 20:24 GMT

Shell's Nigeria operation is working on selling three oil blocks in its latest move to divest some onshore assets, a spokesman said on Friday according to a report.

Reuters reported that the Anglo-Dutch supermajor has been winding down some of its onshore operations to focus on offshore and deepwater drilling. The sales follow similar divestments over the past two years.

The Nigerian government, which is trying to increase ownership of oil blocks by local companies, has encouraged such deals.

"SPDC (Shell Petroleum Development Corporation) is working towards the potential divestment of OMLs 30, 34 and 40," spokesman Tony Okonedo told the news wire.

He declined to comment on any negotiations or whether an offer had already been made for them.

Shell's onshore facilities…

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