London — At least five Nigerian oil and gas companies are preparing to submit bids in January for Royal Dutch Shell’s onshore oilfields in a sale that could fetch up to $3bn, three sources involved in the process told Reuters.
Shell operates SPDC and holds a 30% stake in the venture. The state's Nigerian National Petroleum Corporation holds 55%, TotalEnergies has 10% and ENI 5%. No international oil companies were expected to take part in the bidding process at this point, the sources said, adding that bids were due by January 31.
They said it was unclear whether potential bidders could raise sufficient funds as many international banks and investors had become wary about oil and gas assets in Nigeria due to concerns about environmental issues and corruption.
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