ExxonMobil is mulling selling some of its Nigerian oil and gas field assets as it shifts its focus to US shale production and Guyana oil discoveries, according to industry sources, in a move that could raise up to $3bn. The company has been looking for new opportunities since the end of last year, when it announced plans to sell off its remaining holdings in Nigeria, where it had invested more than $1bn over several years. Nigeria has become an increasingly volatile region for foreign oil producers to operate in, as militants disrupt exports and pipeline vandalism causes spills.
ExxonMobil is mulling selling some of its Nigerian oil and gas field assets as it shifts its focus to US shale production and Guyana oil discoveries, according to industry sources, in a move that could raise up to $3bn. The US company has reportedly held talks with various Nigerian firms to gauge interest, as it seeks to boost production in the Permian and develop large oil assets found off the coast of Guyana. Nigeria has become an increasingly volatile region for foreign oil producers to operate in, as militants disrupt exports and pipeline vandalism causes spills.