Elumelu’s TNOG acquires 45% of OML 17 from Shell, Total, ENI

Heirs Holdings, in partnership with Transnational Corporation of Nigeria Plc, on Friday announced the “unconditional acquisition” of a 45 percent participating interest in OML 17 through TNOG Oil and Gas Limited.

The acquisition also includes all assets of Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited and ENI in the oil block.

TNOG Oil and Gas Limited will also have sole operatorship of the asset, it was further announced.

Heirs Holdings and Transcorp are both chaired by Tony Elumelu, who is also the chairman of United Bank for Africa Plc.

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