Monday, July 25, 2011

SPDC restates commitment to Nigeria in divestment exercise

World Stage
23 July 2011

Press Release-- The Shell Petroleum Development Company of Nigeria Ltd (SPDC) has said divestment of its equity from some oil blocs in the Niger Delta is compliant with its contractual rights and regulatory frameworks which guide the oil industry in Nigeria. The company also rejects any suggestions that its divestment exercise is illegal, non transparent or done to undermine the interest of any stakeholders.

And the company has re-assured stakeholders including staff and communities that appropriate consideration will continue to be given to their interests, within the scope of the joint operating agreements (JOAs), while all MoUs and other agreements would be respected.

“This is in support of government policy of encouraging the growth of Nigerian companies in the oil and gas sector and will deliver many opportunities for them,” explained Tony Attah, Vice President for Safety, Environment, Sustainable Development and Communications, Shell Sub Saharan Africa.

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