Oil firms to sell 20 blocks worth $11.5bn in 2014

The divestment is part of the IOCs strategy to handover the ownership of relatively small oil fields to indigenous firms and focus on big onshore and deep offshore oil fields, which promise to yield commercial quantity now and in the future. The Group Managing Director, Nigerian National PetroleumCorporation, NNPC, Mr. Andrew Yakubu, disclosed this at…