Gulf Oil and Gas accountACCOUNT

S.Korean Concern Wins Nigerian Oil Rights

Source: Yahoo Finance 8/28/2005, Location: Africa

Share |
A South Korean consortium won rights to develop a pair of oil fields off the coast of Nigeria. The two sites are estimated to contain 2 billion barrels of crude oil, 2.5 times more than South Korea's 2004 annual oil consumption of 800 million barrels. Africa's largest oil producer began awarding new petroleum-exploration rights Friday. Early winners were Taiwan-based Chinese Petroleum Corporation, awarded an onshore field in the southern Niger Delta, and the local Northern Nigeria Development Company, which won rights to explore in two northeastern plots.

The South Korean consortium is led by state-owned Korea National Oil Corp., KEPCO and Daewoo Shipbuilding and Marine Engineering Co.,They will hold a 65 percent stake, giving them operating control. Other stakeholders are India's Oil and Natural Gas Corp. Ltd. and a Nigerian company.

Exploration News in Nigeria >>

Brazil >>  4/18/2016 - Statoil together with operator Repsol Sinopec and partner Petrobras has completed the Gavea A1 well in the ultra-deep pre-salt block BM-C-33 in the Ca...
Denmark >>  4/18/2016 - The Danish part of the North Sea is a mature area with a well-developed infrastructure and continued exploration potential. This prefunded MultiClient...

Mexico >>  4/14/2016 - Mexico's oil regulator voted to improve the terms for its first-ever deepwater auction in December, giving energy companies and investors more flexibi...
China >>  4/12/2016 - Energy company Pertamina plans to explore for oil and gas in areas close to Indonesia's maritime border in the South China Sea to assert the country's...

Kazakhstan >>  4/11/2016 - Roxi Petroleum, the Central Asian oil and gas company with a focus on Kazakhstan, has provided an update on operations at its flagship BNG asset. ...
Senegal >>  4/11/2016 - Gas has been discovered by FAR Limited and its partners in the BEL-1 well offshore Senegal. The BEL-1 well has also proven the northern extent of the ...

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 |

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 TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Privacy Policy.