Gulf Oil and Gas accountACCOUNT

S.Korean Concern Wins Nigerian Oil Rights

Source: Yahoo Finance 8/28/2005, Location: Africa

A South Korean consortium won rights to develop a pair of oil fields off the coast of Nigeria. The two sites are estimated to contain 2 billion barrels of crude oil, 2.5 times more than South Korea's 2004 annual oil consumption of 800 million barrels. Africa's largest oil producer began awarding new petroleum-exploration rights Friday. Early winners were Taiwan-based Chinese Petroleum Corporation, awarded an onshore field in the southern Niger Delta, and the local Northern Nigeria Development Company, which won rights to explore in two northeastern plots.

The South Korean consortium is led by state-owned Korea National Oil Corp., KEPCO and Daewoo Shipbuilding and Marine Engineering Co.,They will hold a 65 percent stake, giving them operating control. Other stakeholders are India's Oil and Natural Gas Corp. Ltd. and a Nigerian company.

Exploration News in Nigeria >>

Israel >>  7/21/2019 - The second Israeli offshore licensing round has ended: 5 Companies Submitted Proposals for Oil and Gas Exploration in 12 New Blocks in Israel's Exclu...
United States >>  7/18/2019 - In support of President Donald J. Trumpís America-First Offshore Energy Strategy, U.S. Secretary of the Interior David Bernhardt announced that the Bu...

Egypt >>  7/17/2019 - Egypt's Ambassador to Algeria Ayman Mosharafa said that he discussed with Algerian Energy Minister Mohamed Arkab means of boosting bilateral relations...
Norway >>  7/12/2019 - Aker BP is about to complete the Liat?rnet exploration well in licence 442 in the NOAKA area. The well has proved oil with a gross resource estimate o...

United Kingdom >>  7/12/2019 - Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announces that the...
Colombia >>  7/10/2019 - Gran Tierra Energy Inc. (Gran Tierra) (GTE) announced an operations update. Production amounts are unaudited and on an average working interest before...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Nigeria Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |

More News

Related Links

AO BJ BW CD CG CI CM DZ EG ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.