ConocoPhillips to sell its Nigerian businesses to Canada's Oando for $1.79 bln

Thu Dec 20, 2012 4:43pm EST

Dec 20 (Reuters) - Oil giant ConocoPhillips will sell its Nigerian businesses for about $1.79 billion to Oando Energy Resources Inc.

Oando Energy, which is focused on oil exploration and production in Nigeria and the Gulf of Guinea, said it paid $435 million in cash to ConocoPhillips when it signed the deal.