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UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
Standard Bank has announced the successful closing of syndication of a $550mn sy ...
Standard Bank has announced the successful closing of syndication of a $550mn syndicated bank guarantee and bridge facilities to support Shoreline Natural Resources in its acquisition from Shell of a 45% interest in OML 30 in the Niger Delta of Nigeria. The deal represents one of Nigeria’s largest syndicated loan transactions completed this year, and was additionally supported by China Development Bank, Ecobank Nigeria and First City Monument Bank. The sale of the OML 30 stake forms part of the indigenisation process in Nigeria, transferring certain oil and gas assets to local Nigerian ownership. OML 30 includes eight producing fields with oil and gas contained in numerous stacked reservoirs. The acquisition assets also include a 45% interest in the segment of the Trans Forcados pipeline between the Eriemu Manifold and the Forcados River Manifold. OML 30 has gross proved and probable reserves of 1,114mn barrels of oil and current production of some 35,000 b/d.
