Nigeria firm announces $147.5M oil field purchase

LAGOS, Nigeria — A Nigerian oil company says it paid $147.5 million for a stake in an onshore oil field once owned by Royal Dutch Shell PLC, Eni SpA and Total SA.

First Hydrocarbon Nigeria Ltd., which has Afren PLC as a core investor, said in a statement Thursday it bought a 45 percent stake in the field once held by the foreign firms.

First Hydrocarbon Nigeria will partner with the state-run Nigerian National Petroleum Corp., which holds a 55 percent stake in the field. The state-run company announced the sale in November, but gave no financial details.

Shell said Thursday it received $488 million from the sale of two of its Nigerian subsidiary’s onshore oil fields, one of which First Hydrocarbon Nigeria bought.

Oil-rich Nigeria, an OPEC member, is a top crude supplier to the U.S.