The energy giant instructed Clifford Chance on deal, which will end more than 80 years of Shell's exploration in Nigeria’s oil-rich Niger Delta region.
January 19, 2024 at 05:06 PM
3 minute read
The oil giant said that it will be selling Shell Petroleum Development Company of Nigeria Limited (SPDC) to Renaissance, a consortium of five companies, for $2.4 billion.
The transaction, contingent on approval from regulators, will end Shell’s over 80 years of exploration in Nigeria’s oil-rich Niger Delta region as the company plans to focus more on managing deepwater and gas operations.
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