Leadership
8 February 2011
Lagos/Abuja — The energy sector of the Nigerian economy may not be the same again as Nigerian business tycoons - Mike Adenuga, Aliko Dangote and Femi Otedola, who are among those in stiff contest to clinch 30 per cent stake in some oil blocks offered for sale by Shell Petroleum Development and Production Company (SPDC) and its partners - continue to map out strategies to outwit one another.
It was reported yesterday that Adenuga's Conoil Producing submitted a bid of $650 million each for two Oil Mining Leases (OMLs) 30 and 42, while Dangote Group offered $600 million for Shell's 30 per cent stake in the OML 30.
Otedola's African Petroleum (AP) was also reported to have submitted a bid of $515 million for the same OML 30, while a consortium of Addax Oryx and Perenco and Oando Plc is bidding for SPDC's stake in OML 42, which the Nigerian National Petroleum Corporation (NNPC) is also bidding for.
Shell and its partners - Total Exploration and Production Limited and Nigeria Agip Oil Company - recently offered some onshore fields located in the Southern Niger Delta for sale to interested investors.
The onshore blocks included OMLs 26, 30, 34, 40 and 42, some of which, sources said, contain reserves of up to 2 billion barrels.
Also to be sold with the oil blocks are the facilities located in the region where the industry had faced repeated militant attacks.
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