A statement issued by its spokesperson, Mr. Precious Okolobo, on Saturday in Lagos said Shell Nigeria Petroleum Development Company, "agreed to transfer its interest in three production licences and related equipment in the Niger Delta to a consortium led by two Nigerian companies."

"This sale of assets supports the Nigerian government's goal of expanding opportunities for local energy companies", the statement said.

"We have been in Nigeria for more than 50 years and remain committed to doing business here.

"This transaction should be seen in the context of Shell's active portfolio management of its assets and interests across the world.

"The agreement covers Shell's 30 per cent interest in oil mining leases 4, 38 and 41 covering approximately 2,650 square kilometres in the north-western Niger Delta.

"The buyer is Seplat Petroleum Company Limited, a Nigerian company jointly held by two Nigerian firms, Platform Petroleum Limited and Shebah Petroleum Development Company Ltd, along with Maurel & Prom of France.

"The agreement is subject to the approval of the Federal Government of Nigeria and the national oil company, the Nigerian National Petroleum Corporation (NNPC)," the statement said.

SPDC is the operator of the joint venture between NNPC (55%), Shell (30%), Total E&P Nigeria Limited 10 per cent, and Nigeria Agip Oil Company (5%).

Total E&P Nigeria Ltd and Nigeria Agip Oil Company will also transfer their interest in the three oil mining leases, sources said.

Shell is a leading global energy company whose subsidiaries employ 102,000 people and operate in more than 100 countries and territories.

-APA