{"id":40825,"date":"2022-02-25T09:14:59","date_gmt":"2022-02-25T09:14:59","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=40825"},"modified":"2022-02-25T09:15:03","modified_gmt":"2022-02-25T09:15:03","slug":"exxonmobil-to-sell-mobil-producing-nigerias-shallow-water-affiliate","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/exxonmobil-to-sell-mobil-producing-nigerias-shallow-water-affiliate\/","title":{"rendered":"ExxonMobil to sell Mobil Producing Nigeria\u2019s shallow-water affiliate &nbsp;"},"content":{"rendered":"<p>IRVING, Texas-ExxonMobil has reached an agreement to sell its equity interest in Mobil Producing Nigeria Unlimited (MPN) to Seplat Energy, a Nigeria-owned independent oil and gas company. &nbsp;<\/p>\n\n\n\n<p>Liam Mallon, President, ExxonMobil Upstream Oil and Gas, made this known in a statement on Friday. &nbsp;<\/p>\n\n\n\n<p>\u201cThe sale supports the company\u2019s disciplined investment strategy, Nigeria\u2019s efforts to enhance industry participation includes shallow-water affiliate. &nbsp;<\/p>\n\n\n\n<p>\u201cExxonMobil to retain deep-water assets. &nbsp;<\/p>\n\n\n\n<p>\u201cThis sale will allow us to prioritize competitively advantaged investments in our strategic assets and it supports the Nigerian government\u2019s efforts to grow its oil and gas operations,\u2019\u2019 Mallon said. &nbsp;<\/p>\n\n\n\n<p>He said ExxonMobil valued its relations with the Nigeria and its people over the decades, adding that it would continue as the company maximise the value from its deep-water operations. &nbsp;<\/p>\n\n\n\n<p>Mallon said when finalised, the sale would include the Mobil Development Nigeria and Mobil Exploration Nigeria equity ownership of Mobil Producing Nigeria Unlimited. &nbsp;<\/p>\n\n\n\n<p>He said the firm hold 40 per cent stake in four oil mining licenses, including more than 90 shallow-water and onshore platforms and 300 producing wells. &nbsp;<\/p>\n\n\n\n<p>Mallon said ExxonMobil would maintain a significant deep-water presence in Nigeria. &nbsp;<\/p>\n\n\n\n<p>According to him, this include interests in the Erha, Usan and Bonga developments via Esso Exploration and Production Nigeria Limited and Esso Exploration and Production Nigeria (Deep-water) Limited. &nbsp;<\/p>\n\n\n\n<p>Mallon said the sale would not result in any loss of employment and was expected to close later in 2022 subject to regulatory and other approvals. &nbsp;<\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-40825\" data-postid=\"40825\" class=\"themify_builder_content themify_builder_content-40825 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>IRVING, Texas-ExxonMobil has reached an agreement to sell its equity interest in Mobil Producing Nigeria Unlimited (MPN) to Seplat Energy, a Nigeria-owned independent oil and gas company. &nbsp; Liam Mallon, President, ExxonMobil Upstream Oil and Gas, made this known in a statement on Friday. &nbsp; \u201cThe sale supports the company\u2019s disciplined investment strategy, Nigeria\u2019s efforts [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":22406,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[908],"tags":[1285],"class_list":["post-40825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oil-gas","tag-exxonmobil","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ExxonMobil to sell Mobil Producing Nigeria\u2019s shallow-water affiliate &nbsp; - The Freezone Channel<\/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:\/\/thefreezonechannel.com\/old\/exxonmobil-to-sell-mobil-producing-nigerias-shallow-water-affiliate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ExxonMobil to sell Mobil Producing Nigeria\u2019s shallow-water affiliate &nbsp; - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"IRVING, Texas-ExxonMobil has reached an agreement to sell its equity interest in Mobil Producing Nigeria Unlimited (MPN) to Seplat Energy, a Nigeria-owned independent oil and gas company. &nbsp; Liam Mallon, President, ExxonMobil Upstream Oil and Gas, made this known in a statement on Friday. &nbsp; \u201cThe sale supports the company\u2019s disciplined investment strategy, Nigeria\u2019s efforts [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thefreezonechannel.com\/old\/exxonmobil-to-sell-mobil-producing-nigerias-shallow-water-affiliate\/\" \/>\n<meta property=\"og:site_name\" content=\"The Freezone Channel\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-25T09:14:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-25T09:15:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/05\/chevron-exxon-mobil-lag-crude-oil-as-energy-momentum-slows.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"432\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"The Freezone Channel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Freezone Channel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/exxonmobil-to-sell-mobil-producing-nigerias-shallow-water-affiliate\/\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/exxonmobil-to-sell-mobil-producing-nigerias-shallow-water-affiliate\/\",\"name\":\"ExxonMobil to sell Mobil Producing Nigeria\u2019s shallow-water affiliate &nbsp; 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