UK-listed Heritage Oil and its Nigerian partner Shoreline Power have agreed to buy a 45pc stake in Niger delta onshore block 30 for $850mn from Shell, Total and Italian energy firm Eni. Nigeria's state-owned NNPC remains the majority stakeholder with 55pc, and its upstream unit NPDC will become operator of the field following completion of the acquisition. The planned purchase still requires approval by the Nigerian oil minister as well as shareholder and regulatory authorisation.
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