Shell is in talks with local firms such as Eroton Exploration and Production Company Ltd. and ND Western Ltd. to divest some of its onshore and shallow-water oil and gas fields in Nigeria.
Shell announced its intention to sell the stake in 2021, saying its long-term energy transition strategy was incompatible with Nigerian operations prone to theft and oil spills.
Shell's sale of Nigerian oil assets helps meet its climate change goals, but also has unintended consequences for the local communities and the environment.
Eroton Exploration and Production Company Ltd. is a Nigerian oil and gas exploration and production company. It is a joint venture between the Nigerian National Petroleum Company Limited (NNPCL) and a consortium of Nigerian investors. The company was established in 2018 and is focused on developing and producing oil and gas resources in Nigeria.
Shell has been in talks with Eroton Exploration and Production Company Ltd. since 2019 to sell some of its Nigerian oil fields. The company is reportedly looking to offload some of its assets in the country as part of its strategy to focus on more profitable areas. The sale of the assets is expected to generate billions of dollars for Shell.
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