Why it is on record
Operator of the QIT (Qua Iboe Terminal) at Eket — for decades the largest single onshore-oil-export terminal in Africa. The 2022–24 sale of MPNU to Seplat (~$1.28bn) marked the structural exit of ExxonMobil from Nigerian shallow water.
Record held
Largest single onshore export terminal at peak (QIT); 2024 Seplat sale = largest IOC indigenisation deal.
Deep dive
Mobil Producing Nigeria Unlimited (MPN) was incorporated in 1955 and is the operator of the OML 67-70 shallow-water acreage offshore Akwa Ibom — historically the second-largest non-NNPC oil producer in Nigeria after Shell. Its onshore Qua Iboe Terminal is the historical export point for the Qua Iboe crude blend, one of Nigeria's premium light-sweet streams. The 2022–2024 sale of MPN to Seplat Energy — repeatedly delayed by ministerial and presidential intervention — was the largest IOC divestment in Nigerian history and the largest indigenous acquisition of upstream assets to date.