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| SHELL LOGO |
The Chief Financial Officer, Shell, Mr. Simon Henry, has
said that the oil major may not complete
its sale of assets in Nigeria until 2015 while expressing fears that the coming
general elections may complicate the transactions.
Shell Petroleum Development Company has put up for sale four
oil blocks – OML-18, OML- 29, OML-25 and OML-24 and the bidders are
Midwestern/Mart/Notore, Sahara Consortium and Dangote/Dansa for OML-18; Vertex/
Seplat/Maurel&Prom/VP Global, Glencore/Neconde, Transcorp, and
Aiteo/Taleveras for OML-29.
Others are Lekoil, Crestar, GreenAcres/CCC/Signet Petroleum,
NDPR/SAPETRO and Essar for ML-25.
Sahara Consortium, PanOcean/Newcross, Shoreline Aiteo/
Taleveras are also bidding for OML-24.
The company said it
hoped to make $15bn in disposals worldwide in 2014 and 2015, the sale of its
stake in four oil blocks in the Niger Delta are expected to generate part of the target revenue from asset
divestment.
According to him, an election planned for February can have
an impact on the sale process, without specifying in what way.
He said the Nigerian assets had attracted strong interest
from potential buyers.
Shell is divesting 30 per cent of the four blocks, along
with the sale of 10 per cent from Total and five per cent from Eni. Analysts
have estimated the value of the combined 45 per cent at around $3bn.
In the over 70 years that Shell has operated in the county,
it has faced serious problems on the Delta with oil theft, environmental
damage, political protests and attacks on its facilities.
As part of any deal, the oil major wants minimise its
exposure to further risks there.
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