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Nigeria Awards ChevronTexaco and Phillips Block OPL 318

20th June, 2002

hexgear

Nigeria has signed oil production sharing contracts with ChevronTexaco and Phillips for the development of block OPL318 located in the deep waters offshore. Phillips will be the operator of the block. Nigerian Presidential Adviser on Petroleum and Energy Rilwanu Lukman said at the ceremony in Abuja awarding the agreement marked the end of the first licensing round of oil blocks for the year. Earlier last month, Nigeria signed joint operating agreements with Phillips, ChevronTexaco and ExxonMobil for blocks 214 and 318. Phillips holds 50 percent in block 318, ChevronTexaco holds 30 percent and NPDC the remaining 20 percent.

Asset: OPL 318 Source: http://www.rigzone.com/news/ar...

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