NNPC seeks investors for oil and gas asset stakes
The Nigerian National Petroleum Company Limited has started talks to sell stakes in some of its oil and gas assets. According to a Reuters report, the move aims to optimise the company’s portfolio and attract new investment. NNPC is inviting bids from interested investors, though details on the size of the stakes or expected revenue have not been disclosed. The process involves pre-screening and technical evaluation of prospective bidders.
TLDR
- NNPC is looking to sell stakes in select oil and gas assets to attract investment.
- An invitation document has been released, asking interested investors to submit bids.
- Prospective bidders must register online by January 10, after which pre-screening will occur.
- Qualified bidders will access a secure virtual data room with detailed asset information.
- The sale aims to unlock capital and improve asset performance, but has faced concerns from oil sector unions.
