
The Nigerian unit of Africa-focused oil and gas company Afren has agreed to buy a stake in oil fields in Nigeria from Royal Dutch Shell, Total and Eni.
First Hydrocarbon Nigeria (FHN), in which Afren has a 45 per cent stake, has agreed to buy a 45 per cent stake in OML 26 in the Delta State for $187.5 million (approximately €135 million). The price includes the cost of the acquisition and FHN's share of planned development.
The remaining 55 per cent stake will be held by the state-run Nigerian National Petroleum Corporation.