The Federal Government, on Tuesday, offered 12 oil blocks and five deep offshore assets for sale as it marketed the assets to global oil sector investors at the ongoing 2024 Offshore Technology Conference in Houston, United States. Speaking at the African Oil Industry Opportunities Session, a side event at the 2024 Offshore Technology Conference, the Chief Executive of Nigerian Upstream …

No fewer than 23 oil blocks managed by both international and local oil companies, which are under crude oil Production Sharing Contracts with the Nigerian National Petroleum Company Limited (NNPCL), failed to produce crude or were inactive, the Federal Government has said. It disclosed this in the latest Oil and Gas Industry Report for 2021 released by the Nigeria Extractive …

President Muhammadu Buhari has approved the extension of the technical/commercial bid submission for the 2022/2023 deep offshore oil block mini-bid round process to 19th May; while the timeline for concluding activities of contract negotiations and signing will now be between 3rd and 28th July 2023. Announcement the new deadline on Saturday in a statement, the Chief Executive of the Nigerian …

NNPC Limited on Tuesday officially took over Oil Mining Lease (OML) 123/124 and 126/137, operated by Addax Petroleum Development (Nigeria) Limited after concluding all transaction obligations. The deal ends a 24-year production-sharing contract arrangement between both parties. In a statement by its Chief Corporate Communications Officer, Garba Deen Muhammad in Abuja, NNPCL said the transfer was achieved three months after …