The terms of loan will give Shell Western Supply and Tradingsole access to the 16,000 barrels per day (bpd) of oil thecompany pumps in two fields off
Production at offshore fields, including Amni's Ima andOkoro/Setu, is difficult to maintain, but Amni said the loanwould allow them to further develop the fields. The company alsohas an offshore concession in
"We are excited to work with GT Bank and Shell as commercialand financial partners to enable the realisation of Amni'sambitious plans for growth," Amni's Chief Executive TundeAfolabi said in the statement.
Shell and GT did not provide additional comment.
Bigger oil companies and trading houses often extendfinancing to smaller oil and gas producers in deals that allowthe financier preferential access to physical cargoes and givethe recipient companies the cash they can use to develop andmaintain their assets.
Earlier this year,
(Reporting by Julia Payne and Libby George; Editing by AdrianCroft)