Gulf Oil and Gas accountACCOUNT

Nigeria Opens Bids For 78 Oil Blocks

Source: Tahran Times 8/25/2005, Location: Africa

Share |
Nigeria opened the bidding Friday in an auction of 78 oil exploration blocks in the waters of the Gulf of Guinea, the creeks of the Niger Delta and the inland basin near Lake Chad in its far north east. About 380 foreign and Nigerian firms are participating in the licensing round either as individuals or in a consortium, the director of the Department of Petroleum Resources, Tony Chukwueke, told the opening session of the event.

The bid program indicates that any block not sold on Friday will be put on offer again Saturday with the bidders having equal right to participate in the second round.

Junior oil minister Edmund Daukoru had said that Nigeria's first deep water offshore oilfield will begin production next month and by next year it will help to ease supply shortages that have pushed world prices to near record levels. Nigeria is already Africa's biggest oil producer, with exports of around 2.5 million barrels per day, and supplies more than ten percent of the United States' crude imports.

Oil majors have made massive investments in deep offshore development and hope that within five years, when more new fields begin production, exports could pass four million barrels.

Exploration News in Nigeria >>

Brazil >>  9/23/2016 - Brazil is likely to hold its 14th round of oil rights concession auction and its second-ever auction of sub-salt production sharing rights at the same...
Egypt >>  9/22/2016 - Eni upgraded the field potential of Baltim South West to 1 trillion cubic feet (Tcf) of gas in place, following the results of the appraisal well Balt...

Russia >>  9/22/2016 - In the course of geological exploration of the Kirinsky prospect in the Sea of Okhotsk, a prospecting and appraisal well was drilled in the Yuzhno-Lun...
Russia >>  9/19/2016 - Russia's GazpromNeft, the oil arm of state gas firm Gazprom, plans to launch its Messoyakha oil field within weeks, a senior executive said, adding to...

Tunisia >>  9/19/2016 - Eni has successfully resumed exploration activities onshore Tunisia in the Sahara desert, approximately 700 kilometers south of Tunis. Eni has just co...
Canada >>  9/16/2016 - Corridor Resources Inc. announced an update to its operations. The Canada-Newfoundland and Labrador Offshore Petroleum Board (“C-NLOPB”) has announce...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Nigeria Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 |

More News

 

Oil & Gas Companies in Nigeria >>


Related Links

AO BJ CD CG CI CM DZ EG ET GA GH GN GQ KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.