Royal Dutch Shell said on Friday it had completed the sale of its stake in a Nigerian oil field for $737 million as the Anglo-Dutch oil major nears the completion of a strategic asset review in the West African country.
Oil and Mining Lease (OML) 18 and “related facilities in the Eastern Niger Delta” were sold to Eroton Exploration & Production Company Limited.
Eroton also acquired French oil major Total’s 10 percent stake and Italy’s Eni’s 5 percent stake in OML 18, giving it a total 45 percent holding, Shell said in a statement.
OML 18 produced around 14,000 barrels of oil equivalent per day in 2014.
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Shell announced last October that it had signed sales agreements for all five Nigerian oil assets it put up for sale following a 2013 review of its business in Nigeria.
The Anglo-Dutch company completed the sale of OML 24 in November.
