A consortium led by Vitol has spent $1.407bn on a 50% interest in a Nigerian oil company.
It has teamed up with Africa Oil Corp and Delonex Energy to acquire half of Petrobras Oil and Gas BV (POGBV).
Vitol hold 50% of the consortium.
Brazilian finance company BTG Pactual E&P will continue to own the remaining 50% of POGBV.
POGBV has an indirect 8% interest in Oil Mining Lease (OML) 127, which contains Chevron's Agbami field, and an indirect 16% interest in Total's OML 130, which contains the Akpo field, and the Egina field, which is expected to commence production by the end of 2018.
