Nigeria enters new production sharing contract, where Sao Tome and Principe Joint Development Authority and Total Nigeria Plc is to exploit over 500 million untapped barrels of crude oil in West Africa. OilBarrels Total JDA SaoTome Nigeria
A new production sharing contract yesterday entered into by Nigeria, Sao Tome and Principe Joint Development Authority and Total Nigeria Plc is to exploit over 500 million untapped barrels of crude oil in West Africa.
The Joint Development Zone , managed by the authority, is an area bordering the two countries to the fringes of the Atlantic Ocean that is rich oil and gas reserves. Geidam said the new pact follows a careful re-engagement geared at turning around the fortunes of the region. The Managing Director of Total E&P Nigeria Limited, Nicholas Terraz, said though the firm had pulled out of previous deals, it would, however, explore the opportunity of the 3D seismic data to assess drilling potential in the area.
Last month, while increasing output forecast for non-OPEC members by 80,000bpd to 2.18mbpd on the backdrop of production statistics from U.S. Gulf of Mexico, the organisation had equally lowered its demand, citing global economic realities.Besides, the United States Secretary of Energy, Rick Perry, yesterday said his country was committed to helping Africa achieve energy independence.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Total signs PSC deal to explore oil on Nigeria-Sao Tome border – Daily TrustNigeria and São Tomé and Principe have awarded French oil giant, Total, exclusive right to begin oil exploration in three blocks - 7, 8 and 11, located within the oil-rich Joint Development Zone (JDZ) owned by both countries.
Read more »
Real Madrid agree €50m deal for Porto’s Militao – Daily TrustReal Madrid have announced an agreement to sign Porto defender Eder Militao in the summer, marking the club’s first signing since Zinedine Zidane’s return as manager. Militao, 21, will move to the Bernabeu in June on a six-year deal, Madrid announced in a statement.ADVERTISEMENT The Brazilian only joined Porto from Sao Paulo last summer for …
Read more »
Labour reacts to CBN ban on forex sale to importers - Daily Post NigeriaComrade lssa Aremu, General Secretary, National Union of Textile, Garment and Tailoring Workers of Nigeria, (NUTGTWN) has lauded the Central Bank of Nigeri
Read more »
Nigeria, Europe, others ban embattled Boeing 737Max plane | The Guardian Nigeria News - Nigeria and World NewsDue to the death of 157 persons on Sunday in the crash involving a Boeing 737 Max belonging to Ethiopia Airlines in Addis Ababa, the Nigerian Government yesterday banned the use of the aircraft till further notice. Nigeria Boeing 737MaxPlaane
Read more »
IWD2019: Building a gender-balanced Nigeria | The Guardian Nigeria News - Nigeria and World NewsIt's IWD, a day to celebrate the social, economic, cultural and political achievements of women, while also marking a call to action for accelerating gender balance, in line with the theme for this year’s celebration - BalanceForBetter. IWD2019 Nigeria
Read more »
In Imo State, 70 candidates want Okorocha’s job | The Guardian Nigeria News - Nigeria and World NewsImo State has the largest number of governorship aspirants in this year’s general elections. And these candidates, 70 of them, believe the people will support them to success on Saturday. They point at existing and imaginary indices to support their claims.
Read more »
Imo Police hire 320 vehicles for personnel monitoring | The Guardian Nigeria News - Nigeria and World NewsTo check cases of abuse against its personnel deployed to provide security in the 4,758 voting points in the 27 Councils of Imo State, the state Police Command has chattered 350 vehicles to add to the existing ones for today’s elections. In the same vein, all eligible voters have been assured of their security and …
Read more »
Governorship/Assembly elections: Buhari, wife, vote in Daura | The Guardian Nigeria News - Nigeria and World NewsPresident Muhammadu Buhari and his wife, Aisha, has joined hundreds of other electorates to exercise their franchise at the polling unit 003 Kofar Baru III, Gidan Niyam, Daura, Katsina State. TGNElectionWatch INEC NigeriaDecides2019 Nigeria
Read more »