SHELL IN TALKS WITH ELUMELU’S HEIRS HOLDING OVER SALE OF $2BN OIL ASSETS

Shell is presently in discussion with Heirs Holding Limited with respect to the sale of its interests in Oil Mining Licenses (OML) 11 and 17. Included in the sale are infrastructure assets such as a natural gas-fired power plant which would be managed by Transnational Corporation of Nigeria Plc.