This Day
8 May 2011
Efforts by Shell Petroleum Development Company to conclude the sale of four of its onshore oil blocks in the Niger Delta that were tendered last year would have to wait for a few more months before the sales get the final nod, as the Nigerian National Petroleum Corporation may elect to exercise its preemptive rights in the blocks.
Shell had tendered four of its blocks – Oil Mining Leases 30, 34, 40 and 42 – to bidders last year in a bid process that attracted at least 30 consortia comprising local and foreign oil firms.
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NNPC’s move to exercise its rights is coming on the back of an agreement reached by Shell and the Neconde Consortium penultimate Friday for OML 42.
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