Afren-backed local firm buys Nigeria oil block

First Hydrocarbon Nigeria (FHN), which is partly owned by oil company Afren, confirmed on Thursday the purchase of a 45 percent stake in Nigerian oil block OML 26 for $147.5 million from Shell , Total and Eni. FHN, a Nigerian firm set up by Afren, First City Monument Bank (FCMB) and Guaranty Trust Bank, to purchase local energy assets, said OML 26 was producing 6,000 barrels of oil per day and this would increase to 40,000 bpd within four years.Add your comment
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