Seplat Energy Plc has disclosed in a filing with the Nigerian Exchange Limited (NGX) that discussion has commenced with oil major, ExxonMobil, to acquire its shallow water oilfields.
The oil giant had earlier announced its plans to sell off some of its oil and gas fields in Europe, Asia and Africa so as to focus on new development and projects around the world.
Analysts have said that ExxonMobil is actively divesting in Nigeria as cost and other details in the transaction remain unclear.
Seplat’s CFO, Emeka Onwuka, is in charge of arranging the release and all that concerns the transaction.
The company said that further announcement in line with the regulatory requirements will be made when appropriate as deliberations are still ongoing.
