Shell has made previous agreements with Akselos. Credit: Tonktiti via Shutterstock.

Oil and gas major Shell has resumed talks with ND Western to divest its assets in Nigeria, reported Bloomberg, citing sources.

Shell holds a 30% stake in the joint venture (JV) with Eni, TotalEnergies and the government-backed Nigerian National Petroleum Company.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The JV operates onshore and shallow-water oil and gas resources in the African nation.

In June 2022, Shell said that it was postponing the sale of its share in the JV as it awaited the resolution of a legal dispute before the Nigerian Supreme Court.

A lower court had instructed Shell to not sell any assets until the issue with a community in the crude-rich Niger Delta over alleged pollution is addressed.

Although significant progress has been made since the sale negotiations with ND Western resumed recently, Shell said, there is no guarantee that a deal will be reached or that the transaction will move through.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The Nigerian Supreme Court judges are now on summer vacation and the court’s ruling for the Nigerian National Petroleum Company to maintain the status quo is still in effect.

Shell declined to comment on any sale talks.

However, the energy company reaffirmed its plan to scale back its engagement in onshore oil production in Nigeria, while maintaining its deepwater and natural gas holdings there.

Shell added that it respects the legal system and adheres to the court’s direction.

ND Western also declined to comment on the development.

In 2021, Shell revealed its plan to sell the interest, claiming that operations in Nigeria, which are vulnerable to theft and oil spills, were incompatible with its long-term energy transition strategy.

Besides ND Western, local companies including Heirs Oil and Gas, Seplat Energy and Sahara Group had expressed interest in buying the assets.