Nigeria's Oando acquires stake in Phillips (Brass) Limited

walethimbuAfrica Oil Week exhibitor, Oando, has signed an agreement to acquire ConocoPhillips’s affiliate Phillips (Brass) Limited (PBL) for around US$105mn

Nigerian energy group, Oando, will acquire PBL, which holds ConocoPhillips’ 17 per cent shareholding interest in the Brass LNG Project.

The Brass LNG project is a Greenfield project to develop a two-train, 10mn ton LNG facility in Bayelsa State, Nigeria.

The other partners in the project are NNPC (49 per cent), Eni (17 per cent) and Total (17 per cent).

Oando is set to be among more than 120 exhibitors at Africa Oil Week which is being hosted by Global Pacific & Partners and held from 25-29 November at the Cape Town International Convention Centre in South Africa.

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