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Seplat To Buy Exxonmobil’s Shallow Water Oil Assets

Indigenous energy firm, Seplat has commenced discussion with oil major, ExxonMobil to secure purchase of its shallow-water oilfields.

In recent years, Exxon has been exiting investments worth billions of dollars in oil and gas fields in Europe, Asia and Africa as the U.S. energy major focuses on a handful of mega projects at home and abroad.

The company has accelerated asset divestments in Africa this year, selling an 80 per cent interest in a Ghanaian offshore block and proposing to offload its stake in the Doba oilfield in Chad.

An Exxon representative in London did not immediately respond to a request for comment on Seplat’s announcement, according to a report by Nasdaq.

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