The Federal Government, Wednesday, announced the completion of the divestment deals between Nigeria Agip Oil Company and Oando Plc, as well as that of Equinor and Project Odinmim, which are jointly worth about $1.5bn.

It also announced that as of June 2024, the country’s functional oil rigs increased to 34, adding that a total of 31 oil blocks were currently on offer for bidding in the 2024 Licensing Round through the Nigerian Upstream Petroleum Regulatory Commission, an agency of the Federal Government.

The Chief Executive, of NUPRC, Gbenga Komolafe, who disclosed this while speaking at the Nigeria Oil and Gas conference in Abuja, also gave updates on the $2.4bn Shell Petroleum Development Company and Renaissance divestment deal, as well as the $1.2bn ExxonMobil and Seplat deal.