has reported that #Shell
’s onshore divestments was gathering pace with planned $2bn asset sale
in onshore fields in Nigeria’s #NigerDelta
is fraught with challenges as oil assets are easily targeted by disgruntled elements.
Top on the asset disposal list, are oil mining licenses 11 and 17 which #Shell
is considering selling for up to $2 billion, according to sources.
The 17 acreages are: OMLs 11, 17, 20, 21, 22, 23, 25, 27, 28 31, 32, 33, 35, 36, 43, 45 and 46. The properties were due to expire in 2019.
Asset Divestment by IOC’S; What Marginal Field Operators Need to Know.
Oil majors in Nigeria seem to be selling off their “onshore assets” while acquiring “offshore oil blocks”; this may be in support of Nigeria’s increased local content, participation policy.
Or it may be a practical solution, in response, to the challenges faced onshore and in the shallow waters.
Possibly due to the “Emergence of Social Normative Norms in Oil Pollution” due to lax enforcement of the law in the area of environmental degradation. This may have resulted in prolonged, host community hostility; targeted at the International Oil Companies. “Off Shore Deep Water Oil Blocks”
seem to be devoid of #communityissues
, relations, corporate social responsibility obligations,oil theft and other “disruptions” which have seemingly unsettled the IOC’S.
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Picture credit: Shell