NNPC buys shares in OML 34
NNPC,in partnership with local firm ND Western, have bought a block onshore the Niger Delta operated by Shell. NNPC said in a statement that the block, OML 34, is one of the three blocks Shell has put on the auction block this year onshore Nigeria.
NNPC said that the deal is “a major milestone in the oil and gas sector.”
“The taking over of Oil Mining Lease (OML) 34 by the Nigerian National Petroleum Corporation and ND Western (is) part of measures to grow the in-country upstream capacity of the petroleum industry,” the statement said.