Shell Petroleum Development Company of Nigeria Limited -- a joint venture with the state-run Nigerian National Petroleum Corporation -- has sold the 30-per cent holding to local firm Eroton Exploration & Production, it said in a statement.
"This divestment is part of the strategic review of SPDC's onshore portfolio and is in line with the Federal Government of Nigeria's aim of developing Nigerian companies in the country's upstream oil and gas business," it added.
Eroton has also bought holdings from divisions of Total of France and ENI of Italy, taking its total stake in OML18 to 45 per cent.
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