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OPL 226 Awarded to Essar

1st January, 2007

hexgear

India’s Essar Group will soon hold a 100% stake in OPL 226 once it signs the final version of the production sharing contract (PSC). OPL 226 covers an area of 1,530 sq km and is located in the petroliferous Nigerian Continental Shelf in water depths of up to 200 meters. Essar Exploration & Production Ltd. Nigeria was awarded 100% ownership of the offshore block in the 2007 bidding round with a signature bonus payment of $37 million.

Asset: OPL 226 Source: http://www.petroleumafrica.com...

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