05 Sep. 2012 // Other
Petrolin Trading acquiring a participating interest in OML 34, onshore Nigeria.
Today, Petrolin Group announced that ND Western Limited, a consortium consisting of Petrolin Trading Ltd and its Nigerian partners, has completed the purchase of a 45% participating interest in license OML 34 previously held by the operator, Shell Petroleum Development Company (SPDC), and by its partners Total E&P Nigeria Ltd and Nigerian Agip Oil Company Ltd.
OML 34, which covers 950 square kilometers in Delta State, includes the Utorogu, the Ughelli East, the Ughelli West and the Warri River oil and gas fields and related facilities. The current daily production is approximately 300 million cubic feet of gas, and 15,000 barrels of oil and condensate which is exported via the Forcados Terminal.
Mr. Samuel Dossou-Aworet, Chairman of the Petrolin Group, commented:
“I am very pleased to share this good news which is a significant step towards Petrolin’s long-term commitment to Nigeria’s oil and gas sector. I look forward to strengthening the bonds with our Nigerian partners, and look forward to working together with them on driving this project to major results.”