Seplat Energy Says Media Reports of Nigeria Shallow Water Assets Deal Termination Are Inaccurate
07 Mars 2022 - 6:31PM
Dow Jones News
By Kyle Morris
Seplat Energy PLC said Monday that it was aware of media reports
claiming that the sale and purchase agreement between it and
ExxonMobil concerning shallow water assets in Nigeria had been
terminated, but said that no such termination has taken place.
The London-listed energy company also said that it is aware of
reports that the Nigerian National Petroleum Co. has exercised a
right of pre-emption under the NNPC/Mobil Producing Nigeria
Unlimited joint operating agreement. It added that it wants to
clarify that the sale and purchase agreement deals with the
acquisition of the entire share capital of MPNU's shareholders,
Mobil Development Nigeria Inc. and Mobil Exploration Nigeria Inc.,
entities of Exxon Mobil Corp.
MPNU isn't a party to the agreement and continues to hold its
interests, rights and obligations under the NNPC/MPNU JOA, Seplat
Energy said.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
March 07, 2022 12:16 ET (17:16 GMT)
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