Sub-Sahara Mining & Industrial Journal
MiningNews

Chappal Petroleum, Others Go For ExxonMobil Nigeria Oil Assets

AN indigenous company, Chappal Petroleum Development Company, is one of the strong contenders for the ExxonMobil Nigeria oil and gas assets.

The assets comprise 40 percent of interests in the Qua Iboe fields of four blocks and pipelines in oil mining leases (OMLs) 67, 68, 70 and 104 located in shallow water.

An investigation by Energy Vanguard indicated that the company was founded by Mr. Austin Avuru, and stands a good chance of winning the assets, having teamed up with the United Kingdom’s Cairn Energy, with about $908billion market capitalisation.

With the support of Cairn Energy, Chappal Petroleum is also said to be chasing other oil and gas assets that the International Oil Companies, IOCs, in Nigeria seek to divest.

ExxonMobil is still processing all the bids, which would be concluded in the first quarter of 2022.
The post Chappal Petroleum, others go for ExxonMobil Nigeria oil assets appeared first on Vanguard News.

Related posts

New Niagara Drop Guard Liners Offer 100% Cross Beam Protection

Mining_Editor

South32 expects loss of up to $175 mln from S.African coal unit sale

Mining_Editor

BoG To Begin Local Gold Purchase From September 1

Mining_Editor

Leave a Comment