Platts
1 April 2011
Shell's Nigerian oil producing unit Friday confirmed it had sold its stake in Niger Delta license OML 40 to a UK-Nigerian consortium, and said it expected to conclude the sale of its stakes in three more onshore licenses soon.
Elcrest Exploration and Production, a consortium of UK-based Eland Oil and Gas and Nigeria's Starcrest Nigeria Energy, won the auction for the 45% stake in Niger Delta license OML 40, comprising Shell's 30% stake, Total's 10% stake and the 5% held by Eni's Agip.
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