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Nigeria's state-owned NNPC Limited invited bids from investors for stakes in certain oil and gas assets via an invitation document distributed late last week, according to a Reuters review on Monday. The company wholly owns some assets or operates them through joint ventures with Shell, Chevron, Eni, and TotalEnergies.
Interested bidders must register online by January 10, followed by pre-screening for technical and financial capacity. Qualified parties will access a virtual data room for due diligence, then proceed through document evaluation, negotiations, and regulatory approvals. NNPC did not respond to requests for comment on asset values or equity percentages available.
NNPC previously stated plans to divest at least 25% equity in selected oil and gas fields through full sales or partial stake reductions. Oil unions have objected to the proposed divestments.
The process addresses Nigeria's challenges in lifting crude output after years of underinvestment, theft, and disruptions. The government seeks production increases from marginal onshore fields vacated by international oil companies.
