ConocoPhillips sale includes offshore Nigeria properties

Offshore staff

HOUSTON – ConocoPhillips (NYSE: COP) has agreed to sell its Nigerian business unit for $1.79 billion plus customary adjustments. The transaction is anticipated to close by mid-2013.

The sale to Oando PLC includes two offshore properties consisting of 95% operated interest in OML 131 (Chota field) and 20% nonoperated interest in OPL 214 (Uge field). Onshore, the sale involved a power plant and Brass LNG project.

12/21/2012

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