Nigeria-focused oil and gas explorer Oando Energy Resources (OER) and New York-listed ConocoPhillips have entered into an agreement to extend the outside date for the completion of the $1.65-billion proposed acquisition by OER of ConocoPhillips’ Nigerian upstream oil and gas business to July 31.
The extension would enable the parties to finalise activities required to complete the transaction following the receipt of consent from Nigerian Petroleum Resources Minister Diezani Alison-Madueke.
It had previously been expected that the transaction would be finalised on June 30.