AMSTERDAM (AP) -- Britain's Heritage Oil PLC says it has agreed to buy a 45 percent stake in a major oil field in Nigeria for $850 million.
Nigeria's national oil company will retain a 55 percent interest inthe on-shore field in the Niger Delta. The sellers are Royal Dutch Shell, which owns a 30 percent stake, France's Total SA, with 10 percent, and Italy's Eni S.p.A., which owns 5 percent.
Heritage said the assets it is purchasing include the OML 30 field, which produces 35,000 barrels per day, and a section of the 850,000 barrel per day Trans Forcados pipeline.
Shell, the largest foreign producer of oil in Nigeria, has gradually been reducing its exposure to the country, and preferentially developing offshore fields rather than on-shore ones...
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