Exploration: News for Oil & Gas and Hydrocarbon Industries  Membership Services
Gulf Oil and Gas grow your business
Home News Events Projects Tenders Unconventionals Community | My Account
Products and vendors Services and providers Jobs

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 >>

GeoPark Finds New Light Oil Field Discovery in Colombia
  Colombia >>  8/27/2015 - GeoPark Limited, the Latin American oil and gas explorer, operator and consolidator with operations in Chile, Colombia, Brazil, Argentina and Peru, an...
Lowering Costs & Enhancing Efficiency Program Achieved By CNOOC Limited in H1 of 2015
  China >>  8/26/2015 - CNOOC Limited announced its interim results for the six months ended June 30, 2015. ...

Circle Oil's KSS-A Well on The Sebou Permit Disappoints
Morocco >>  8/26/2015 - Circle Oil plc, the North African focused oil and gas exploration, development and production company, provides the following information on the progr...
Cash-Strapped Liberia State Oil Company to Slash Staff in Revamp
  Liberia >>  8/25/2015 - Cash-strapped National Oil Company of Liberia (NOCAL) will slash its work force by over two-thirds as part of measures aimed at cutting costs amid a f...

Mexico Sweetens Oil Auction Terms Again to Avoid Repeat of Flop
  Mexico >>  8/25/2015 - Oil companies competing in the next phase of Mexico's historic Round One auction will know the minimum level of profits demanded by the government pri...
Erin Energy Enters Next Phase of Onshore Kenya Exploration
  Kenya >>  8/21/2015 - Erin Energy Corporation (Erin Energy) has been given approval by the government of Kenya to enter the First Additional Exploration Period (FAEP) on it...



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 |

More News

Oil & Gas Companies in Nigeria >>

Related Links

Countries Quick 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 TD TN TZ UG ZA ZM
Gulf Oil and Gas B2B marketplace:   About -  Advertising -  Competitive Intelligence -  Talent Solutions -  Membership Services Follow us on Facebook
Copyright Universal Solutions All rights reserved. Privacy Policy. - Contact Us  Gulfoilandgas rss feed