{"id":31996,"date":"2014-10-11T14:17:26","date_gmt":"2014-10-11T13:17:26","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=31996"},"modified":"2014-10-11T14:20:03","modified_gmt":"2014-10-11T13:20:03","slug":"taleveras-group-acquire-shells-2-5-billion-oil-block","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/taleveras-group-acquire-shells-2-5-billion-oil-block\/","title":{"rendered":"Taleveras Group To Acquire Shell’s $2.5 Billion Oil Block"},"content":{"rendered":"

Oil giant Royal Dutch Shell has agreed to sell a prolific Nigerian oil<\/span>
block, Oil Mining License 29, and an associated pipeline, for $2.5 billion<\/span>
to a consortium led by Taleveras Group, an oil trading firm founded and<\/span>
owned by a 39 year-old Nigerian multi-millionaire Igho Sanomi, according<\/span>
to the Wall Street Journal.<\/span>

Shell had been looking to divest from four of its onshore Nigerian assets<\/span>
since last year \u2013 OMLs 18, 24, 25 and 29, as well as the Nembe Creek Trunk<\/span>
line, a 60-mile aging pipeline which has served as Nigeria\u2019s major crude<\/span>
oil transportation channel- moving oil through the Niger Delta to the<\/span>
Atlantic coast, but which has been beleaguered by leaks stemming from oil<\/span>
theft for many years.<\/span>

Taleveras will be getting a sweet deal. Of all the assets, Shell put up<\/span>
for auction, OML 29 was the most coveted. The Africa Oil & Gas Report<\/span>
magazine reports that OML 29\u2019s remaining reserves (P1+P2) are about<\/span>
2.2Billion barrels of oil equivalent (BOE), while its hydrocarbon fields<\/span>
could deliver as much as 160,000 barrels of oil per day and 300MMscf\/d at<\/span>
peak, with focused, aggressive work programme. The Nembe Creek Trunk Line<\/span>
is also an extremely valuable asset as many other oil exploration<\/span>
companies in Nigeria pay to use it to transport their oil to international<\/span>
markets.<\/span>

According to the Wall Street Journal, a Shell spokesman said the<\/span>
Netherlands-based oil major has signed sales and purchase agreements for<\/span>
some of the oil mining leases that it was looking to divest, and would<\/span>
make a market announcement in the event of a successful completion.<\/span>

Taleveras Group, the company acquiring OML 29, is owned by one of<\/span>
Nigeria\u2019s most successful young entrepreneurs, Igho Sanomi. Sanomi, 39,<\/span>
founded the Taleveras Group in 2004 at the age of 29, as an energy trading<\/span>
company. Today, the company trades over 100 million barrels of crude oil<\/span>
as well as several million tons of gasoline, LPG and jet fuel annually. In<\/span>
April 2012, Sanomi\u2019s company acquired production sharing contracts (PSCs)<\/span>
for three offshore oil blocks in Ivory Coast. In June 2013, Taleveras sold<\/span>
a 65% stake in one of its Ivorian offshore upstream projects to Lukoil of<\/span>
Russia for an undisclosed price. Taleveras also owns a stake in a power<\/span>
distribution firm in Nigeria.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Oil giant Royal Dutch Shell has agreed to sell a prolific Nigerian oilblock, Oil Mining License 29, and an associated pipeline, for $2.5 billionto a consortium led by Taleveras Group,…<\/p>\n","protected":false},"author":1,"featured_media":31999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-31996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\nTaleveras Group To Acquire Shell's $2.5 Billion Oil Block - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/taleveras-group-acquire-shells-2-5-billion-oil-block\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Taleveras Group To Acquire Shell's $2.5 Billion Oil Block - 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