NNPC, MPNU sign settlement agreement for ExxonMobil-Seplat deal

The Nigerian National Petroleum Company Limited says it has signed a settlement agreement for the divestment of ExxonMobil’s stake in Mobil Producing Nigeria Unlimited According to a statement on Thursday by the national oil company, the agreement was signed with MPNU, Mobil Development Nigeria Inc., and Mobil Exploration Nigeria Inc.

“Settlement agreement between NNPC Ltd. and Mobil Producing Nigeria Unlimited, Mobil Development Nigeria Inc., and Mobil Exploration Nigeria Inc. signed regarding the proposed divestment of a 100% interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited,” NNPC said.to the ministry of state for petroleum resources and NNPC on May 28 to resolve the divestment issue delaying the Seplat and ExxonMobil deal.

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