Royal Dutch Shell said on Friday it had agreed the sale of its Nigerian oil block OML 40 to Eland Oil and Gas and local Nigerian company Starcrest.
“There were no booked reserves associated with that block,” a Shell spokesman told Reuters after confirming the deal.
Eland Oil and Gas and Starcrest Nigeria Energy Ltd said they had agreed to purchase a 45 percent interest the block which is owned by Shell, Total and Eni. The Nigerian state-oil company owns the other 55 percent and the deal will have to be agreed by the Nigerian government.
