August 27, 2014 7:09 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Shell Petroleum Development Company of Nigeria Ltd.

Company Overview

Shell Petroleum Development Company of Nigeria Ltd. produces and supplies gas to domestic customers. The company operates about 6000 km of pipelines and flow lines, sixty oil fields, 700 producing wells, sixty flowstations, seven gas plants, and two major oil export terminals at Bonny and Forcados. Shell Petroleum Development Company of Nigeria Ltd. is based in Lagos, Nigeria. Shell Petroleum Development Company of Nigeria Ltd. operates as a subsidiary of Royal Dutch Shell plc.

21/22 Marina

PMB 2418

Lagos,  23401

Nigeria

Phone:

234 1 2769999

Fax:

234 8070269999

Key Executives for Shell Petroleum Development Company of Nigeria Ltd.

Managing Director
Compensation as of Fiscal Year 2014.

Shell Petroleum Development Company of Nigeria Ltd. Key Developments

Shell On Brink Of Announcing Sale Of Four Onshore Oil Blocks In Nigeria

Royal Dutch Shell plc has moved forward for the sale of four onshore oil blocks in Nigeria. Shell Petroleum Development Company of Nigeria Ltd. (SPDC) has put pen to paper on two blocks, while the buyers are on the verge of proving that they have the funding, industry sources with knowledge of the deals said. That leaves government approval as the only hurdle to clear before SPDC – a partnership between Shell, Total SA (ENXTPA:FP), Eni SpA (BIT:ENI) and the government– can formally announce the deals. Sales and purchase agreements on two more blocks are ‘imminent’, said one source. The asset sale is valued at £2 billion. An SPDC spokesman said: “In the event of a successful completion of the sales process we shall make a market announcement”

SPDC Gives Bidders Deadline For Four Oil Blocks

Shell Petroleum Development Company of Nigeria Ltd. (SPDC) is planning to sell assets. This day reported that the company has given a deadline till the end of June 2014 to local and international investors that submitted bids for four of its oil blocks to show their commitment, to pay for the assets both in the form of equity and debt. The news report stated that local and foreign companies had formed consortia that submitted bids for the four oil blocks currently on offer by SPDC. The company is divesting its 30% stake, while Total SA (ENXTPA:FP) and Eni SpA (BIT:ENI) are set to sell 10% and 5% respectively in four Nigerian oil blocks, Oil Mining Leases (OMLs) 18, 24, 25 and 29. Nigerian National Petroleum Corporation (NNPC) shall retain ownership of the remaining 55% in each of the four leases. The report mentioned that prior to the June 2014 deadline, the bidders had already paid 10% of their bids to Shell.

Shell Petroleum To Divest Stake In Assets

Shell Petroleum Development Company of Nigeria Ltd intends to divest 45% stake in Oil Mining Licenses 29. The stakeholders and locals of Nembe-Bassambiri are opposing the sale as the sale is proceeding without consulting them.

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