Nigeria’s oil giant, the Nigerian National Petroleum Company Limited (NNPCL), plans to sell stakes in some of its oil and gas assets and has called for bids.
According to local media reports, the NNPCL owns some assets outright and others in partnership with international oil companies, including Shell, Chevron, Eni, and TotalEnergies.
The reports stated that the document did not disclose how much it aims to raise or the size of the stakes on offer.
The NNPC had previously outlined plans to sell at least 25% of the equity it holds in select oil and gas fields, either through full divestments or stake reductions, as part of a portfolio optimisation strategy.
The reports added that the invitation document, which was distributed earlier required interested bidders to register online by January 10, after which pre-screening will follow and qualified firms will gain access to a secure virtual data room.
According to the reports, prequalification will be based on technical and financial capacity, followed by document evaluation, negotiations and regulatory approvals.
Nigeria plans to raise crude oil output and attract investments while targeting incremental growth through production from marginal onshore fields vacated by international oil companies.
GIK/APA