Gulf Oil and Gas accountACCOUNT

Nigeria to Launch New Oil, Gas Licensing Round End-Jan

Source: www.gulfoilandgas.com 1/16/2007, Location: Africa

Nigeria will launch a new exploration round at the end of this month, offering up to 60 oil and gas blocks, Nigerian Oil Minister Edmund Daukoru confirmed Tuesday.

"Roadshows will begin by February in London, Hong Kong and other places," he said.

Daukoru said Nigeria plans to offer between 50 and 60 blocks to prospective investors, which will be spread across "all terrains" including the "interior basin," but he didn't elaborate.

Daukoru said talks were underway between India's state-run NTPC Ltd. and the Nigerian government on a deal involving a new power plant and Nigerian supplies of liquefied natural gas to India, but nothing on this had been finalized.

International investors have been waiting for months for Nigeria to launch the round, in which countries like India, China and South Korea are expected to be enthusiastic participants.

In December, ONGC Mittal Energy Ltd., or OMEL, a joint venture between India's Oil and Natural Gas Corp. and London-based Mittal group said it expects to add a third oil and gas exploration and production block to the two that it already has in Nigeria.

China's CNOOC Ltd. (CEO) has been working to obtain preemptive rights to four blocks, as part of Chinese efforts to deepen involvement in Nigeria and bolster declining supplies of crude China receives from the West African country.

In January 2006, CNOOC Ltd. agreed to pay $2.27 billion, plus $424 million in expenses, to South Atlantic Petroleum Ltd. for a 45% working interest in the OML 130 offshore oil mining license, which mainly covers Nigeria's undeveloped Akpo field.

Two months later CNOOC Ltd. bought a 35% working interest in a license to explore for oil offshore Nigeria for $60 million.

Exploration News in Nigeria >>

United Kingdom >>  4/9/2019 - AIM-listed Egdon Resources has announced the results of a Competent Person's Report ('CPR') prepared by Schlumberger Oilfield UK in relation to the Re...
Australia >>  4/8/2019 - Carnarvon Petroleum and its Joint Venture partner and Operator, Santos, have moved quickly to appraise the Dorado discovery made in the third quarter ...

Oman >>  4/8/2019 - Total and the Ministry of Oil and Gas of the Sultanate of Oman (MOG) have signed a Heads of Agreement (HoA) for the award to Total of an exploration l...
Egypt >>  4/7/2019 - Minister of Petroleum and Mineral Resources Tarek el Mullah conferred with his Saudi counterpart Khaled el Faleh on means of boosting joint cooperatio...

Lebanon >>  4/5/2019 - The Lebanese government has approved the opening of the country’s much-anticipated 2nd offshore licensing round. Interested companies will be expected...
Colombia >>  4/4/2019 - The Arrecife 1ST well proved the presence of gas in the Municipality of Pueblo Nuevo, Cordoba. The Arrecife well is part of the Exploration and Produc...

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 |

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.