- LAGOS: A Nigerian oil company says it paid $147.5 million for a stake in an onshore oil field once owned by Royal Dutch Shell PLC, Eni SpA and Total SA.
First Hydrocarbon Nigeria Ltd., a subsidiary of Afren PLC, said in a statement it bought a 45 percent stake in the field once held by the foreign firms.
The company said it hopes to get 40,000 barrels of oil a day from the fields in the next four years.
First Hydrocarbon Nigeria will partner with Nigerian National Petroleum Corp., which holds a 55 percent stake in the field.
The state-run company announced the sale in November.
Nigeria, an OPEC member, is a top crude supplier to the US.