Nigeria: FBN, Seven Others Syndicate U.S, $350 Million in Oando, Conocophillips Deal

More facts emerged at the weekend that eight Nigerian banks participated in the successful completion of Oando Energy Resources (OER) acquisition of Conoco Phillips Nigerian assets for about $1.6 billion.

According to a statement by FBN Capital Limited, OER successfully completed the acquisition of OMLs 60, 61, 62, 63, 131 and 145 (the target assets) located in a prolific oil and gas producing zone in the Niger Delta, through a combination of equity and debt.

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