Scandoil  

Mart Resources in consortium to acquire onshore Nigerian Oil Mining Lease 18


Published Oct 23, 2014
Mart Resources, Inc.

Mart Resources, Inc. is a member of a consortium (the "Consortium") that has entered into an assignment agreement (the "Assignment Agreement") with The Shell Petroleum Development Company of Nigeria Limited (SPDC), Total E&P Nigeria Limited and Nigerian AGIP Oil Company Limited (collectively, the "Sellers") pursuant to which a special purpose company (Consortium SPV) owned directly or indirectly by the Consortium members will acquire a 45% participating interest in Nigerian Oil Mining Lease 18 (OML 18) and all associated assets, wells, pipelines and infrastructure.

The remaining 55% participating interest of OML 18 will be retained by the Nigerian National Petroleum Corporation (NNPC). The acquisition is subject to numerous terms and conditions including receipt of Nigerian Government approval.

Tags: Mart Resources




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml