Oil Mining Lease (OML) 138 still up for sale
Total has hired BNP Paribas to find buyers for its Usan deepwater oil field located in Oil Mining Lease (OML) 138, which could be worth about $2.5 billion, according to news reports.
“We have selected an advisor to pursue the sale process of Usan,” a spokeswoman for Total was quoted by Reuters
This offshore Nigerian oil fields is up for sale for the second time, after a 2012 deal with Sinopec Corp of China failed.
Nigerian National Petroleum Corporation (NNPC) is the OML 138 concession holder. Other partners include Chevron, ExxonMobil and Nexen, which is owned by Chinese state company CNOOC Ltd.