Meet the 2.5 billion dollar man! Shell to sell $2.5 billion oil block to 39 year old Igho Sanomi led consortium

Talk about getting paid this is what we call true entrepreneurship! Congrats Igho!

According to the Wall Street Journal

oil giant Royal Dutch Shell has agreed to sell the profitable Nigerian oil block Oil Mining License 29, and an associated pipeline, for $2.5 billion to a consortium led by Taleveras Group, an oil trading firm founded and owned by a 39 year-old Nigerian multi-millionaire Igho Sanomi.

Born in Delta State Igho Sanomi started the company and 2004.

The Wall Street Journal also reports that the oil block won by Talevaras is the most coveted of all the oil assets, including OMLs 18, 24, 25 and 29, put up for auction by Shell. According to Shell figures quoted by the Africa Oil and Gas Report, the remaining reserves (P1+P2) in OML 29 is about 2.2 Billion barrels of oil equivalent (BOE). The hydrocarbon fields on the acreage could deliver as much as 160,000BOPD and 300MMscf/d at peak, with focused, aggressive work programme.

Shell has signed sales and purchase agreements for some of the oil mining leases it plans to sell, according to The Wall Street Journal, and once the deals get done, a market announcement Will be made.

Igho Sanomi is net worth is currently at 1.6 billion  Will surely see this increase tremendously grow once the deal for the OML 29 is said and done.

One of Africa’s youngest billionaires, Sanomi was recently listed atop Choiseul’s 100 African economic leaders under 40.