Document shows that Nigeria's NNPC is looking to sell stakes in certain oil and gas assets. It invites bids.

According to an invitation received on Monday, NNPC Limited (the state-owned energy firm of Nigeria, Africa's top oil producer) plans to sell stakes?in?some of its?oil and?gas _assets.

NNPC has some assets that it owns outright, while others are in partnership with oil companies such as Shell, Chevron Eni, TotalEnergies, and Chevron. The document didn't disclose if it aimed to raise a certain amount or the stakes offered, and NNPC declined to comment on a request.

NNPC previously announced plans to'sell at least 25% of its equity in selected oil and gas fields. This could be done through divestments, or by reducing stakes. Oil sector unions were against the draft plan.

The invitation document distributed last week stated that interested bidders must register online before January 10. After this, pre-screening is conducted and the qualified firms are given access to a virtual data room.

Prequalification is based on technical and financial capability, then document evaluation, negotiation, and regulatory approvals.

Nigeria is aiming to increase production by using marginal fields onshore that have been vacated from international companies. (Written by Chijioke Ahuocha, edited by Joe Bavier).

(source: Reuters)