NIGERIA: Shell Completes Sale Of OML 18 Stake To Eroton Group

Royal Dutch Shell has completed the sale of its stake in a Nigerian oil field for $737 million as it nears the completion of a strategic asset review in the West African country, Reuters reports.
Oil and Mining Lease (OML) 18 and "related facilities in the Eastern Niger Delta" were sold to Eroton Exploration & Production Company Limited.

Eroton also acquired French oil major Total's 10 percent stake and Italy's Eni's 5 percent stake in OML 18, giving it a total 45 percent holding, Shell said in a statement.

OML 18 produced around 14,000 barrels of oil equivalent per day in 2014.