Seplat, co-founded by Austin Avuru, nears completion of $1.3-billion ExxonMobil deal
The $1.3-billion transaction initiated in 2022 had faced delays due to Nigeria’s stringent legal landscape and approval bottlenecks.
The $1.3-billion transaction initiated in 2022 had faced delays due to Nigeria’s stringent legal landscape and approval bottlenecks.
The NNPCL announced on May 30, 2024, the formalization of an agreement that transfers ExxonMobil’s interests in Mobil Producing Nigeria Unlimited (MPNU) to Seplat.
The government cited overriding national interests as one reason for rejecting the $1.58-billion deal.