L
LequteMan
Guest
Oando Plc said it has executed a Share Purchase Agreement (“SPA”) with Seven Energy International Limited (“Seven Energy”) for the sale of the entire issued share capital of one of its wholly owned subsidiaries, East Horizon Gas Company Limited (“EHGC”) for a total gross consideration of US$250 Million (about N40 billion) adjusted for net liabilities.
EHGC is a special purpose vehicle operating a 128km, 120mmscf, 18-inch natural gas transmission and distribution pipeline (‘the Pipeline’) traversing the Akwa Ibom and Cross River States.
It has a gas sales agreement to supply close to 25MMcfpd, increasing to 50MMcfpd in 2016, under a 20-year “take-or-pay” agreement expiring in 2032.
Click Source to see more- Daily Trust
EHGC is a special purpose vehicle operating a 128km, 120mmscf, 18-inch natural gas transmission and distribution pipeline (‘the Pipeline’) traversing the Akwa Ibom and Cross River States.
It has a gas sales agreement to supply close to 25MMcfpd, increasing to 50MMcfpd in 2016, under a 20-year “take-or-pay” agreement expiring in 2032.
Click Source to see more- Daily Trust
