39-year-old Nigerian oil trader, Igho Sanomi is set to acquire Royal Dutch Shell’s highly productive oil block, Oil Mining License 29 (OML 29) for $2.5 billion as the company continues divesting its assets in Nigeria.
Sanomi’s Taleveras Group, according to the Wall Street Journal will also be buying a pipeline associated with the OML 29 as part of the total sum.
The oil block won by Talevaras is the most coveted of all the oil assets, including OMLs 18, 24, 25 and 29, put up for auction by Shell. According to Shell figures quoted by the Africa Oil and Gas Report, the remaining reserves (P1+P2) in OML 29 is about 2.2 Billion barrels of oil equivalent (BOE). The hydrocarbon fields on the acreage could deliver as much as 160,000BOPD and 300MMscf/d at peak, with.....continue reading

These are the news we need to be seeing on FP, not those silly ones on romance and Jokes section. Poverty is truly a curse. Pray we have younger billionaires in Nigeria. Like if claim it.