Nigeria: Shell sells 30% stake in OML 24

ROYAL Dutch Shell had completed the sale of its 30 percent stake in Nigeria’s onshore Oil Mining Lease 24 (OML 24) in the eastern Niger Delta to Newcross Exploration and Production for $600 million (R6.6bn), it said yesterday. French partner Total and Italy’s Eni also sold their respective 10 percent and 5 percent stakes in OML 24 to Newcross, Shell said in a statement. OML 24 produced on average about 13 000 barrels of oil equivalent a day during the first half of this year, the Anglo-Dutch oil major said in a statement. – Reuters