Heirs, Transcorp acquire 45% stake in oil license OML 17 from Shell, Total and Eni

NIGERIA – TNOG Oil and Gas Limited, a company owned by Heirs Holdings alongside Transnational Corporation of Nigeria Plc, has acquired a 45% participating interest in Nigerian oil license OML 17 and related assets from the Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited and ENI. In addition, TNOG Oil and Gas Limited will have sole operatorship of the asset whose financing component was US$1.1 billion, provided by a consortium of global and regional banks and investors. OML 17 has a current production capacity of 27,000 barrels…

Read More