The Nigerian National Petroleum Company Limited (NNPCL) and ExxonMobil Corporation, have signed settlement agreement on the proposed $1.28 billion asset divestment of Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited.
According to a statement issued in Abuja, the NNPC Limited, stated: “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% interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited.”
The agreement signing was sequel to President Bola Tinubu’s recent directive requesting the Ministry of State for Petroleum Resources (Oil) and the Nigerian National Petroleum Company (NNPC) Limited to prioritise the deal and unlock many benefits for Nigeria and other stakeholders.