Igho Sanomi To Buy $2.5bn Shell Oil Block


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Igho Sanomi To Buy $2.5bn Shell Oil Block
Posted on: October 11, 2014, 11:47:32 PM
Nigeria’s youngest billionaire and oil trader, Igho Sanomi 39-year-old is set to acquire Royal Dutch Shell’s highly productive oil block, Oil Mining License 29 (OML 29) for $2.5 billion as the company continues divesting its assets in Nigeria.
Sanomi’s Taleveras Group, according to the Wall Street Journal will also be buying a pipeline associated with the OML 29 as part of the total sum.
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 are completed, a market announcement will be made.
Igho Sanomi, who founded Taleveras Group in 2004, may see his $1.6 billion net worth grow by leaps and bounds when the deal for the OML 29 is completed.
One of Africa’s youngest billionaires, Sanomi was recently listed atop Choiseul’s 100 African economic leaders under 40.
Apart from oil & gas, Sanomi has business interests in telecommunications, maritime, aviation and real estate.

Here's a look into his biography!

Igho Charles Sanomi II was born in 1975 in Agbor Delta State, Nigeria, the fifth child (and first son) of a devout Catholic family. His father, the late Dickens Oghenereumu Patrick Sanomi hailed from Delta State Nigeria and was a retired Assistant Inspector General of the Nigerian Police. Mr Sanomi’s mother, Mabel Iyabo Sanomi holds a Royal title of Yeye Jemo of Isotun Ijesha Kingdom in Osun State. She was a renowned nurse and medical entrepreneur from Osun State in South Western Nigeria.
Mr Sanomi entered the world of business shortly after completing his Bachelor’s Degree in Geology and Mining at the University of Jos in Northern Nigeria. He rose quickly to the position of Executive Director with Sarian Oil and Cosmos Oil AG, an international Oil Trading Company with its core activities in West Africa. During his time in this role he single handedly developed the company’s trading operations by negotiating the export and delivery of fuel oils from West Africa to the United States Gulf Coast. He also developed a strategic alliance with a major international oil trading group based in Zug, Switzerland. This partnership oversaw the import and export of millions of tons of refined petroleum products to and from the West African coast.
Mr Sanomi is the CEO of the Taleveras Group he founded in 2004. Mr Sanomi is also Chairman of the Dickens Sanomi Foundation board of Trustees, Dickens Sanomi Foundation is a non profit charitable organisation which he founded in memory of his late father. He also sits as Chairman and Co- Chairman of various companies Board of Directors, which he founded or co-founded. These companies activities span from Telecom to Shipping, Aviation and Real Estate Investments worldwide.
His vision and drive has turned the Taleveras Group into a internationally recognized energy and power conglomerate, with offices in London, Geneva, Cape Town, Dubai, Ivory Coast, Abuja and Lagos. Visit the business page to read more about Mr Sanomi’s current business activities.