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OML 118 Dispute: Kyari’s leadership and Nigeria’s next billion barrels, By Momodu Abutu
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Mother Nature has a way of depositing its vast treasures wherever it pleases. In the wonderful world of hydrocarbons, these resources are either placed onshore (on land) or offshore (in water). Beneath the hidden depths of the world’s seas, ranging from a few hundreds to several thousands of feet (called deepwater), therein lies vast fortunes of oil and natural gas resources. These resources have the capacity to boost world economic growth and play a vital role in the future of the rapidly changing global energy mix.
The Minister of State for Petroleum Resources, Chief Timpre Sylva, has tasked the Nigerian Liquefied Natural Gas Limited (NLNG) to play a pivotal role in the domestic gas expansion project. Sylva, made this known during the inauguration of the NLNG Corporate headquarters in Port Harcourt, Rivers State, a weekly review of activities by the Nigerian […]
The Nigerian National Petroleum Corporation (NNPC) has signed a deal with some of the world’s biggest oil companies that could unlock over $10 billion investment in an offshore oilfield.
The corporation and its Production Sharing Contract (PSC) partners namely Shell Nigeria Exploration and Production Company (SNEPCo), Total Exploration and Production Nigeria Limited (TEPNG), Esso Exploration. and Production Nigeria Limited (EEPNL), and Nigerian Agip Exploration (NAE) have executed agreements to renew Oil Mining Lease (OML) 118 for another 20 years.
This disclosure is contained in a statement that was issued by NNPC and signed by its Group General Manager, Group Public Affairs Division, Dr Kennie Obateru, in Abuja on Tuesday.
By Edith Ike-Eboh Abuja, May 25, 2021 The Nigerian National Petroleum Corporation (NNPC) and its Production Sharing Contract (PSC) partners have executed agreements to renew Oil Mining Lease (OML) 118 for another 20 years. The partners are Shell Nigeria Exploration and Production Company (SNEPCo), Total Exploration and