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ExxonMobil company said it is awaiting the Nigerian National Petroleum Company Limited to lift the injunction preventing the sale of its asset to Seplat Energy.
The company’s Regional Communications Manager – Africa, Oge Udeagha, disclosed this disclosure on Saturday.
NNPC had signed an agreement with ExxonMobil companies in Nigeria over the proposed divestment of a 100 per cent interest in Mobil Producing Nigeria Unlimited to Seplat Energy.
The energy company said, “Settlement agreement between NNPC Ltd and Mobil Producing Nigeria Unlimited, Mobil Development Nigeria Inc., and Mobil Exploration Nigeria Inc. signed regarding the proposed divestment of a 100 per cent interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited,”
It is believed that the resolution of the controversies surrounding the sale of the asset to Seplat would add about 480,000 barrels to Nigeria’s oil production.
The Minister of States for Petroleum, Heineken Lokpobiri, said recently that Nigeria had lost about $30bn in the past two and a half years as a result of the unsuccessful divestment.
Lokpobiri expressed concerns that Nigeria was losing about 480,000 barrels of crude oil per day due to the Seplat/ExxonMobil crisis.
He said the asset was producing about 600,000bpd until the crisis began in 2022, saying the nation was losing millions of dollars daily when production dropped to 120,000bpd.
The divestment deal between Seplat and ExxonMobil has been stalled for over two years.
Reacting, Udeagha said that the agreement was for NNPCL to lift the injunction so that the sale of the asset to Seplat could be concluded.
“We have reached an agreement with NNPCL to lift the injunction that prevented the sale of Mobil Producing Nigeria Unlimited shares to Seplat.”
